Algeria, having just announced fuel self-sufficiency, is the latest African oil and gas producing country to confirm its presence in Cape Town this November at the 26th Africa Oil Week (AOW)
The North African oil and gas producer will be represented by the recently appointed Energy Minister Mohamed Arkab – who said this week that Algeria is now producing enough fuel to meet domestic demand and has not had to import since 2018. The country is currently ranked 16th worldwide in terms of proven oil reserves and 10th largest in terms of proven gas reserves.
One of the first priorities of the Minister was to draft a new hydrocarbon law that aims to counter a ‘slowdown in new exploration and production contracts’ and ‘restore the attractiveness of the country’s extractive industries, increase production levels and bring foreign direct investment to the petroleum sector without threatening national sovereignty.’
During a visit to the newly inaugurated Sidi R’Cine Refinery in Algiers, which was re-opened after modernisation, the Minister said, “This rehabilitation operation will inevitably lead us to achieve a surplus of production, which can be exported in the future.”
The Minister will participate with his counterparts from Tunisia, Equatorial Guinea and Uganda in a ministerial panel at the 2019 Africa Oil Week where he will communicate the new agenda and highlight that Algeria is very open to business.
The panel is designed to give ministers the opportunity to explain their hydrocarbon strategies to a global audience and outline their future operating outlook.
AOW Conference Director Paul Sinclair, commented, “We are thrilled to have the Algerian minister attending this year’s conference, which looks set to have a record-breaking level of ministerial attendance and the highest level of North African representation in some years.”
