EnergyBoardroom and Sonatrach Announce New Partnership
31.03.2015 / Energyboardroom
EnergyBoardroom, the premier website for C-Level executives, consultants and regulators working in the energy sector around the world, and Sonatrach, Algeria’s national oil company, enter into a new collaboration for the publication of EnergyBoardroom’s latest report on Algeria, Inside Oil & Gas 2015.
31st MARCH 2015: EnergyBoardroom and Sonatrach today announced that they have agreed on a brand new partnership for the publication of Algeria Inside Oil & Gas 2015, and the publication of Sonatrach’s latest news and developments on EnergyBoardroom.com.
Both institutions are confident in the success of this partnership, which will allow the Algerian national oil company to keep strategic partners, investors and oil and gas opinion leaders up-to-date as the NOC embarks on an transformative and ambitious investment program, with USD 90 billion set aside for investment between today and 2019, much of which will go towards upstream projects.
Sonatrach will spend USD 15.5 billion in 2015, USD 22 billion in 2016 and USD 23 billion in 2017, according to its latest development plan, with significant portion of these funds allocated towards upstream development. With expenditure on exploration kept above USD 3 billion per year, Sonatrach’s expectation is to drill an average of 125 exploration wells per year over the next four years. “USD 11 billion of the overall USD 90 billion investment plan will be sourced from our international partners. The rest will come from both our own coffers and alternative domestic financing channels,” explained acting CEO of Sonatrach Said Sahnoun, in a recent interview with EnergyBoardroom.
Diana Viola, CEO of Focus Reports, the publisher of Algeria Inside Oil & Gas 2015, said:
“We are delighted to partner with Sonatrach, the world’s 12th largest oil and gas company. 2015 will be a pivotal year for Algeria, and we are delighted that as a result of this partnership, EnergyBoardroom’s regular audience of energy sector executives will be able to enjoy access to the latest news and information from Algeria.”
Notes to editors:
As part of a diversification strategy, Sonatrach stepped up investments in power generation, new and renewable energies, water desalination, and mining exploration and exploitation. The international strategy of the company includes operations in several parts of the world, namely in Africa (Mali, Niger, Libya, Egypt), Europe (Spain, Italy, Portugal, Great Britain), in Latin America (Peru) and the USA.
With a turnover nearing USD 56.1 billion in 2010, Sonatrach is ranked first largest oil and gas company in Africa and 12th in the world. It is also world’s fourth largest LNG exporter, third largest LPG exporter and fifth largest natural gas exporter.
EnergyBoardroom is the UK-based, independent publisher of Inside Oil & Gas, a great tool for identifying and understanding exciting new opportunities, projects, policies, and the people making them happen in oil and gas markets around the world. EnergyBoardroom gathers the data, the people and the opinions that matter, and makes market synergies meet.