Algeria Aims for 30 Billion Cubic Meters of Shale Gas and Oil in $100 Billion Energy Plan

JOHANNESBURG--July 23, 2014--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Sonatrach, the state-owned Algerian oil and gas major, has approved a $100 billion investment plan for 2014-2018. An OPEC member and a major gas supplier to Europe, Algeria has been struggling to increase its energy output, on which it relies heavily for state funds to finance development and social programs. Oil and gas production has fallen since 2010, parallel to a fall in exploration activity and a lack of enthusiasm by foreign investors over contract terms, since the militant attack on a gas production plant.

Within this article: Details of new investment plan by Algeria's Sonatrach.