Sonatrach Reports 17 Discoveries, $37.5 Billion Hydrocarbon Exports
Algeria's energy sector has recorded 17 new hydrocarbon discoveries since the beginning of 2026, spearheaded by Sonatrach's own efforts. This achievement was highlighted by Minister of Hydrocarbons Mohamed Arkab during a presentation to the National People's Assembly's Finance and Budget Committee, where he also revealed that hydrocarbon export revenues reached $37.5 billion between January and September of the current year.
These significant revenues were primarily driven by a 37 percent increase in the average price of Algerian crude oil compared to the same period in 2025, reaching approximately $97 per barrel. Additionally, the average price for marketed Algerian gas stood at about $11.3 per million British thermal units. The strong performance led to petroleum tax revenues totaling 2841 billion Algerian Dinars, equivalent to roughly $21.4 billion, which is approximately 105 percent of the estimates approved in the 2026 Finance Law.
Sonatrach's investments exceeded $6 billion in 2026, marking an increase from $5.3 billion in 2025. These investments underscore Algeria's ongoing commitment to strengthening its hydrocarbon production capabilities and expanding its resource base. Efforts to attract international companies are also underway, with British oil company BP notably securing a license for initial exploration activities in the East Basin, signaling a broader push to explore promising, undeveloped areas and enhance the nation's energy potential.
