Chairman Saïd Sahnoun:

Sonatrach maintains its investment plan despite lower oil prices

GMT 20:49 2014 Monday ,08 December

Arab Today, arab today Sonatrach maintains its investment plan despite lower oil prices

Chairman Saïd Sahnoun
Algiers - Arab Today

Sonatrach group will maintain its 2015-2019 five-year development plan, which includes investments worth USD 90 billion, despite the decline in oil prices, its Chairman Saïd Sahnoun announced Sunday in Algiers.
"We decided to maintain our investment plan unchanged despite the drop in oil prices" which reached their lowest level since five years, said Sahnoun to the press on the sidelines of the 9th summit of the North-African oil and gas, held from 7 to 9 December in Algiers.
According to the same official, it was decided to make a special effort to expand the reserve base and increase the production capacity of Sonatrach group.
This plan includes the development of deposits of oil and gas, strengthening oil transportation capacity of the petrochemical and refining activity and the development of human resources.
Source: APS

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