Algiers – Algeria’s hydrocarbon sector has achieved considerable progress in recent years, according to Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab. Speaking in Algiers on Saturday, Arkab emphasized the importance of prioritizing technology localization and fostering robust partnerships with both national and international entities to further enhance the sector’s performance.
The Minister highlighted the strides made in exploration, production, and refining, contributing significantly to the nation’s economy. He stressed that continued investment in modern technologies and strategic collaborations are crucial for sustaining growth and maximizing the value of Algeria’s hydrocarbon resources.
“The hydrocarbon sector remains a cornerstone of our national economy,” Arkab stated. “To maintain our competitiveness in the global market, we must embrace innovation and strengthen our ties with reliable partners.”
The Ministry of Hydrocarbons and Mines is actively pursuing initiatives aimed at attracting foreign investment, promoting local content, and developing a skilled workforce to support the sector’s long-term sustainability. These initiatives include streamlining regulatory processes, offering attractive fiscal incentives, and investing in training and education programs.
Furthermore, the Ministry is committed to environmentally responsible practices and is exploring opportunities to reduce the carbon footprint of hydrocarbon operations. This includes investing in renewable energy sources and implementing advanced technologies to minimize emissions.
The Minister concluded by reiterating the government’s unwavering support for the hydrocarbon sector and its commitment to creating a favorable environment for investment and growth. He expressed confidence that Algeria will continue to play a vital role in the global energy market.
