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Algeria's Sonatrach Planning $68 Bln Investments

Source: Reuters 2/7/2012, Location: Africa

Algerian state energy company Sonatrach is planning to invest $68 billion in the country's energy sector over the next four years, its chief executive said.

"We plan to invest $68 billion between now and 2016. This includes several activities," Sonatrach CEO Abdelhamid Zerguine told a news conference.

The company has made unconventional, or shale, gas exploration a priority. Sonatrach vice-president in charge of upstream, Said Sahnoun, said the first shale gas well will be drilled in May and a second one in October this year.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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