Abu Dhabi, United Arab Emirates — During ADIPEC 2022 edition, the Algerian national agency for the valorization of hydrocarbon resources “ALNAFT” has launched EXALT, a fully integrated digital platform developed by SLB, enabling seamless global access, anytime, anywhere, to the entire Algerian subsurface data and “evergreening” products.
An unprecedented opportunity, in the history of Algeria’s energy market, for investors to explore new plays, prospects, and evaluate the national hydrocarbon domain potential. Demonstrating the value of the national upstream opportunities and promote the Algerian’s hydrocarbon resources worldwide, inclusive but not limited to the future regular licensing rounds.
Attracting foreign direct investments
The cutting-edge technological platform developed by SLB, is being deployed in conjunction with the newly promulgated Hydrocarbon 19-13 law, governing the hydrocarbon activities. The new law aims to develop the institutional framework and introduce a simplified and competitive tax regime in order to promote foreign partnership in the sector.
The new measures and associated flexibility promote sustainable and optimal development and exploitation of the national hydrocarbon resources, in order to meet the needs of both the national and international energy market while promoting the preservation and protection of the environment.
Algeria has a long history of oil and gas exploration and production (E&P) activities that date back to the 1950’s. Such activities have yielded a vast amount of E&P digitized data, representing one of the key competitive attributes of the country’s oil and gas industry; the “National Database Repository (NDR)”.
Since then, Algeria has been developing and increasing its reserves through its National Oil Company Sonatrach and Joint Ventures with international oil companies and investors.
In terms of potential reserves, Algeria has the tenth largest proven natural gas reserves globally with the third largest unconventional gas reserves, it also holds 12 billion barrels of proven oil reserves, ranking 16th worldwide. A potential enabled by very high export capacities, from offloading infrastructure for oil and LNG to a dense pipelines network for both Oil & Gas transport.
According to a recent declaration of ALNAFT leadership: “60% of the hydrocarbon potential in Algeria is under or non-exploited and requires development”.
During ADIPEC 2022, ALNAFT invites all investors and oil and gas operators to visit the Algeria pavilion, in order to experience and explore countless investment opportunities in the country’s vibrant national upstream sector.