Potential of 2.5bn barrels of oil equivalent revealed by Algerian explorations

Explorations carried out by the Algerian oil group SONATRACH over the first nine months of 2014 allowed to reveal a potential of some 2.5 billion barrels of oil equivalent, Minister of Energy Youcef Yousfi said Sunday.
In an address made at the opening of the international conference on gas industry in Algeria, the minister said hydrocarbon output is "very satisfying."
Oil production in Algeria is "the outcome of the huge efforts made to extend exploration and modernize methods and equipment," Yousfi stressed.
"The efforts are made by Sonatrach alone or as part of partnership we seek to promote, especially through amendments to the law on hydrocarbons."