Guitouni welcomes quality of dialogue between Arab oil exporting countries

October 2nd, 2018

d04917f09609ab8382785d14909f807a_M

APS : Monday, 01 October 2018

ALGIERS- Minister of Energy Mustapha Guitouni welcomed Monday, in Marrakesh, the quality of dialogue and exchanges between Arab oil exporting countries.
Speaking at the opening of the 11th Arab Energy Congress, organized by the Organization of Arab Petroleum Exporting Countries (OAPEC) in Marrakesh (Morocco), the minister “welcomed the quality of dialogue and exchanges between the Arab oil exporting countries thanks notably to the periodic organization of this congress,” said a ministerial communiqué.
Held under the theme “Energy and Arab cooperation,” this congress is held from 1 to 4 October.
According to the minister, this congress has become actually “a major event at the regional and international levels, an exceptional space for dialogue, consultations, exchange of ideas and experiences and an opportunity to examine the new cooperation opportunities between the Arab countries.”
Guitouni gave a broad overview of the achievements of the Algerian energy sector as well as investment opportunities in Algeria, by underlining the exploration efforts which allowed making an average of 25 hydrocarbon discoveries per year in the last ten years.
He also pointed out the fact that Algeria produces about 150 million tonnes of oil equivalent per year, and that it has four LNG complexes with a capacity of 56 million m3 per year.
He also noted that Algeria has six refineries with a capacity of more than 30 million of tonnes per year.
This capacity will be strengthened to reach in the medium term a total of 50 tonnes per year, added the minister.