Hydrocarbon Output Expected to Rise in 2016

Source: Algeria Times 3/1/2016, Location: Africa

The production of the national hydrocarbon company Sonatrach is expected to rise in 2016 with the optimization of oil and gas resources and the reduction of the investment costs, its CEO Amine Mazouzi told APS.

"In 2016, there will be a significant increase of (hydrocarbon) production owing to the results recorded in late February as the output targets have reached 100%," he said on the sidelines of a visit to Ghardaia (600-km south of Algiers.

"We will certainly exceed forecasts by the end of 2016," he added.

The expected rise in hydrocarbon output is mainly due to the investments that helped to optimize oil and gas resources while reducing costs of these investments, he explained.

Mazouzi also announced that agreements will be signed with foreign partners in the few coming days for the building of three new refineries in Hassi Messaoud, Biskra and Tiaret.

These projects are part of the national programme for the development of the refining industry and increase the capacity up to nearly 60 million tonnes per year by 2019.

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