M a r k e t N e w s
Algeria to invest US$70b in fracking technology
Posted on : Thursday, 12th February 2015
Algeria’s state-owned oil exploration company Sonatrach is set to invest US$70 billion in gas extraction through fracking technology in the next two decades.
This decision was arrived at after successful drilling tests carried in the country’s southern desert.
The project is aimed to help the country in producing 20 billion cubic metres of shale gas annually from 200 drilling sites in the desert.
Fracturing is a technique in which rock is hydrocarbons trapped in between rock layers are ejected out by a hydraulic liquid made of water, sand and chemicals.
Natural gas is important to the country as it provides alternative energy.
The main drilling project will be rolled in Ein Saleh and the residents are opposed to the project because of the negative environmental effects.
Sonatrach managing director was quick to dispel the residents’ fears confirming that the company will produce clean gas and the waste will be well managed.
Sonatrach is a French owned company that is the largest producer of oil and gas in Algeria and Africa. It operates in exploration, production, pipeline transportation and marketing of hydrocarbons and its by products.
It later diversified to investing in power generation, new and renewable energies, water desalination, and mining exploration and exploitation.
Source : construction review online
