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.
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