{"id":56742,"date":"2017-03-22T18:09:00","date_gmt":"2017-03-22T20:09:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/sonatrach-plans-to-invest-usd-50-billion-through-2021\/"},"modified":"2024-02-21T22:26:45","modified_gmt":"2024-02-22T01:26:45","slug":"sonatrach-plans-to-invest-usd-50-billion-through-2021","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/sonatrach-plans-to-invest-usd-50-billion-through-2021\/","title":{"rendered":"Sonatrach plans to invest USD 50 billion through 2021"},"content":{"rendered":"<p>Oran, Algeria &ndash; Algeria&rsquo;s state-owned oil company Sonatrach is planning to invest over USD 50 billion in exploration and production through 2021, including investments made last year, Alg&eacute;rie Presse Service (APS) quoted Sonatrach Exploration and Production vice president Salah Meknouche as saying this Wednesday (22). <\/p>\n<p>&ldquo;Despite the uncertainty surrounding global oil prices, Sonatrach&rsquo;s forecasts that it will invest over USD 50 billion in exploration and production between 2016 and 2021,&rdquo; the executive said in a press release. <\/p>\n<p>According to <em>APS<\/em>, the investments program will rely on 70% own resources, and priorities will be widening national reserves and boosting production capacity. <\/p>\n<p>The VP said the initiative is part of a new corporate dynamic. &ldquo;This new dynamic is characterized by a permanent, sustained exploration and production effort,&rdquo; he stated. <\/p>\n<p>According to Meknouche, the cyclical nature of the oil industry shows that a slump in prices and investment is followed by a spike as supply and demand match one another, therefore the future outlook is good. <\/p>\n<p>He stressed that USD 40 billion have been allocated to oil and gas field development to increase primary output levels. <\/p>\n<p>Over 1,300 drillings are scheduled for 2017-20121, with production set to exceed 230 million tons of oil equivalent. <\/p>\n<p><strong>*Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-188959\">APS<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Algeria\u2019s government-run oil company intends to increase national reserves and step up oil and gas output.<\/p>\n","protected":false},"author":2316,"featured_media":188959,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-56742","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"Algeria\u2019s government-run oil company intends to increase national reserves and step up oil and gas output.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/56742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=56742"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/56742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/188959"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=56742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=56742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=56742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}