Algeria makes 8 major oil, gas discoveries in 2024

The Algerian Minister of Energy and Mines, Mohamed Arkab, is speaking during a press conference at the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) in Algiers, Algeria, on 2 March, 2024 [APP/NurPhoto via Getty Images]

Algeria’s state-owned oil company Sonatrach has discovered eight new oil and gas fields since January, the energy minister said.

In an interview on Algerian television yesterday, Minister Mohamed Arkab said the “important” new discoveries were made by Sonatrach alone in completely new sites, mainly in the states of Bechar, Ain Salah, Illizi, Djanet and Ouargla.

He pointed out that the discoveries “will provide a significant addition to the proven national reserves of hydrocarbons, especially natural gas.”

He didn’t disclose the estimated reserves within the new fields.

After the American ExxonMobil signed, last Thursday, a memorandum of understanding with Sonatrach to develop two gas fields, Arkab revealed that the American giant, Chevron, will also sign a deal with the state-owned company within a few days to develop a huge hydrocarbon reservoir.

According to Sonatrach’s 2023 data, Algeria’s natural gas production reached about 137 billion cubic metres.

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