Date Published: Thursday, December 26, 2024
Category: Economy
Sonatrach’s Ordinary General Assembly convened in Algiers on Thursday to approve the company’s medium-term development plan for the 2025-2029 period. The plan focuses on enhancing hydrocarbon reserves through intensified exploration and production efforts, according to a company statement.
Key Approvals
Under the chairmanship of Minister of State for Energy, Mining, and Renewable Energies, Mohamed Arkab, the assembly approved:
- The 2025 Annual Budget
- The 2025-2029 Medium-Term Development Plan, which emphasizes:
- Expanding hydrocarbon exploration and production.
- Enhancing the pipeline transport network.
Strategic Objectives
The development plan includes ambitious initiatives in refining, petrochemicals, and transformation projects to meet domestic market needs while increasing Sonatrach’s export capacities for hydrocarbons and derivative products.
The assembly saw participation from:
- Minister of Finance, Laaziz Faid.
- Governor of the Bank of Algeria, Salah Eddine Taleb.
- Fawzi Amokrane, representing the Presidency of the Republic.
Focus on Sustainability and Energy Transition
The plan also highlights:
- Digitalization and Energy Transition Projects: Aimed at enhancing operational efficiency and aligning with global sustainability standards.
- Carbon Footprint Reduction Initiatives: Sonatrach reaffirmed its commitment to environmental sustainability by launching renewable energy projects and adhering to international environmental standards.
These measures are designed to strengthen Sonatrach’s position as a leading player in the energy transition on both local and international levels.
For further details, visit DZWATCH.DZ.
Author: Nor-Eleslam
