Energy

As the world’s 15th-largest oil producer and ninth-largest producer of natural gas, Algeria largely relies on its significant hydrocarbons reserves and strong export markets in Europe and the US to drive its economy. In 2012 the country produced almost 1.7m barrels per day of oil and 81.5bn cu metres of natural gas. State-owned Sonatrach controls around 80% of the upstream segment; however, foreign firms have long had a presence in Algeria and there continues to be major interest from international oil companies. In recognition of the country’s heavy reliance on oil and gas for power, efforts are being made to develop other sources of energy such as solar power and shale gas deposits. In early 2013 a series of changes were made to the Hydrocarbons Law, which promise to further attract foreign investors. This chapter contains interviews with Youcef Yousfi, Minister of Energy and Mines; and Touffik Fredj, President & CEO for North-west Africa, General Electric.