Sontrach signs $40 billion investment plan toward production preservation

  • By Rig Lynx
  • Jan 06, 2022
  • Category : Archives
  • Views :  

The CEO of Sonatrach, Algeria’s state-owned firm, Toufik Hakkar announced that the Group intends to invest nearly $40 billion over the 2022-2026 period. Hakkar elaborated that the majority of the investment would be directed towards exploration and production in order to preserve national productive capacities and includes $8 billion for 2022.

Hakkar added that Sonatrach would carry out at least four projects in the field of petrochemicals and $500 million would be geared toward the protection of the environment.

The announcement was made during Hakkar’s interview with the Algerian international channel AL24.

Source: Sonatrach

Join our mailing list here