Sonatrach, Algeria’s leading energy company, has announced a significant investment of $50 billion for the period 2024-2028. Out of this amount, $36 billion is earmarked primarily for exploration and production activities.
During an event commemorating the 60th anniversary of Sonatrach, the CEO, Rachid Hachichi, unveiled the company’s ambitious plans. He emphasized that Sonatrach aims to reduce its carbon footprint by capturing less than 1% of the flared gases from oil and gas facilities.
Sonatrach, the Algerian energy giant, commits $50 billion for investments from 2024 to 2028, with a focus on exploration and production. CEO Rachid Hachichi outlines the company’s goal to capture less than 1% of flared gases, contributing to carbon footprint reduction.
In a recent announcement, Sonatrach, Algeria’s premier energy company, has dedicated a substantial sum of $50 billion for strategic investments spanning the years 2024 to 2028. Rachid Hachichi, the CEO, shared this information during a celebration marking the 60th anniversary of Sonatrach.
Hachichi underscored the company’s commitment to allocating $36 billion predominantly for exploration and production endeavors. This significant financial injection reflects Sonatrach’s proactive approach to advancing its capabilities in the energy sector.
During the commemorative event, Hachichi articulated Sonatrach’s broader environmental vision. The company aspires to achieve capturing less than 1% of the flared gases emitted from oil and gas facilities. This initiative aligns with Sonatrach’s overarching goal of minimizing its carbon footprint and contributing to global sustainability efforts.
As Sonatrach positions itself for the future, these investments signify a robust strategy aimed at enhancing the company’s exploration and production capabilities. The commitment to environmental responsibility further solidifies Sonatrach’s role as a key player in the global energy landscape.
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Algerian energy giant, Sonatrach, strategic investments, exploration, production, carbon footprint reduction.
