Algerian energy company Sonatrach CEO Taoufik Hakkar revealed that Algeria's oil and gas revenues increased in the first five months of 2023 to $ 21 billion, an increase of two percent from the same period last year. European companies must invest in Algeria if they want more gas.
In parallel, Sonatrach revealed that Total Energies has been crowned with an investment of $ 700 million to produce 54 billion cubic meters of gas and 13 million tons of condensate with it. The two sides signed at Sonatrach's headquarters two hydrocarbon contracts, an extension of the contractual obligations binding on Sonatrach and Total Energies for the sale and purchase of liquefied natural gas, as well as a memorandum of understanding in the field of energy transition and renewable energies.
Source (Alkhaleej Emirati Newspaper, Edited)
