Algeria held oil and gas investment talks with ExxonMobil

1/9/2024

(Reuters) - Algerian energy minister Mohamed Arkab has discussed oil and gas investments in Algeria with the U.S. oil major ExxonMobil, an energy ministry statement said on Tuesday.

A deal is expected to be reached in the next few days, the statement added.

Algeria is pushing hard to boost its oil and gas output; it expects ExxonMobil and other American companies to invest in its energy sector as Occidental has already done.

Algeria’s oil production is at around 1 million, and its gas at 106 billion cubic meters per year, according to figures released by Sonatrach.

ExxonMobil was not immediately available for a comment.