ECONOMY

Sonatrach: 2021 will see growth in production, sales

ALGIERS-The year 2021 will see an increase in production and sales of the National Hydrocarbon Company Sonatrach, said its CEO, Toufik Hakkar.

"In terms of operational activities, 2021 will see an increase in production and sales," Hakkar predicted in the editorial of the latest issue of the News-letter published by the oil and gas group.

In this context, he assured that in the medium term Sonatrach "will continue to meet the growing needs of the domestic market, which will reach 70 million TOE from 2024, while maintaining a level of exports above 90 million TOE annually, thanks to the production of new deposits in the South-West and South-East regions.

He recalled that Sonatrach's investment program for the next five years will amount to 40 billion dollars, 51% of which will be in dinars.

This program "reflects the implementation of our policy of promoting local content, with the tangible willingness to be part of an integrative approach of national companies in the realization of our projects," he added