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Hydrocarbons: Sonatrach expects revenues of $50 billion by the end of 2022

Rédaction El Moudjahid

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The volume of exports reached, last year, 35.4 billion dollars, an increase of 75% compared to the year 2020, reminded the CEO of Sonatrach.

He said that the favourable gas market conditions allowed exports to increase in 2021 by 54% through gas pipelines and by 13% per liquefaction process, adding that Sahara Blend's prices saw an increase of 68% at the end of May 2022 compared to the same period in 2021.

Regarding the new discoveries, Mr. Hakkar stated that 35 new hydrocarbon discoveries were recorded during the period 2020 to 2022, including 34 discoveries in own effort, with an overall volume of 307 million tons of oil equivalent (PET).

With respect to investment projects, the same official reported that over $7 billion had been invested in several projects in progress, which will contribute to the production of 20 million PET/year, in addition to $5 billion invested in projects that have come into effect since 2020, contributing to the production of 10 million PET/year.

Mr. Hakkar also presented a comprehensive review of the development of refining and petrochemicals structured around 4 aspects: value for local resources, attractiveness of partners, guarantee of the competitiveness of projects and choice of projects.

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Hydrocarbons: Sonatrach expects revenues of $50 billion by the end of 2022

Rédaction El Moudjahid

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