Algeria's Sonatrach planning $68 billion investments

Reuters, Tuesday 7 Feb 2012

State company will broaden its investment in energy sector over next four years, says head

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 on Tuesday.

"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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