Energy giant ExxonMobil has renewed its strong interest in the Algerian market, placing it at the top of its Mediterranean expansion strategy as the American multinational accelerates its search for new production basins to replace the declining Permian fields.
Speaking exclusively to dzwatch at the Houston Energy Forum, ExxonMobil’s Vice President for Exploration confirmed the group’s eagerness to fast-track investments across the Mediterranean, with Algeria identified as the primary target due to its enormous unconventional gas potential.
“Algeria’s gas resources — along with those of Greece and the Eastern Mediterranean — represent the most compelling development opportunities available to us today,” the executive told dzwatch, adding that Algeria holds one of the world’s largest unconventional gas reserves, estimated at approximately 7,000 billion cubic meters.
According to internal projections previously disclosed by the same official, unlocking these reserves could generate over 20 billion additional cubic meters of natural gas annually, positioning Algeria as a cornerstone of Europe’s future energy security.
