Tags: Algeria, oil, production, investments, Mohamed Arkab, hydrocarbons, primary production,
Algerian Minister of Energy and Mines Mohamed Arkab said Thursday that his country has allocated $3.5 billion between 2024 and 2028 to expand the country’s hydrocarbon reserve base and increase primary production.
The minister added during a hearing at the National Assembly that this amount will also be intended to improve exploration performance and improve the exploitation of hydrocarbon deposits using modern techniques such as recovery methods. in order to increase the recovery rate.
Arkab explained that the Sonatrach complex development program allocated $416 million to environment-related projects, including $67 million for solar energy projects and $68 million for hydrogen projects.
“Algeria, like other exporting countries, seeks to reduce its greenhouse gas emissions by 7 to 22 percent by 2030, and reduce the total volume of gas flared to less than 1 percent” , indicated the minister.
This will be done through “the measures and procedures that Algeria is working to implement to monitor and control emissions, in cooperation with our national and international partners,” underlined the minister.
The minister confirmed that Sonatrach plans to implement an ambitious natural carbon capture program, with the support of the General Directorate of Forests, aiming to plant 420 million trees over an area of 520,000 hectares in the south of the country. .
In the same spirit, the minister highlighted the formation of a specialized committee which includes all stakeholders concerned with reducing methane emissions, to develop a roadmap aimed at “establishing a national tool for detection, estimation and to reduce methane emissions, and there are several projects being implemented by Sonatrach.
Source: North Africa News
#Algeria News #Algerian Minister #hydrocarbons #Hydrogen #Methane # MohamedArkab #SolarEnergy #Sonatrach #Oil
