NAPEC 2018: Algeria, major investment destination in mining industry
APS - 27 March 2018
ORAN (Algeria)- Algeria is a major investment destination in terms of the mining industry, especially in non-conventional and offshore hydrocarbons, said Monday the manager of the prospective studies at Al-Naft, who was attending the NAPEC 2018 (North Africa Petroleum Exhibition and Conference) held in Oran (432-km west of Algiers).
In a paper at roundtable assessing oil and gas basins in North Africa, entitled "Oil and Gas, Opportunities Open to Partnership," Lounes Adour said the opportunities "are numerous in the mining industry in Algeria, especially with the hydrocarbon law revision under way."
The areas open to exploration mainly concern border regions, offshore hydrocarbons and the development of the new oil and gas discoveries, he said. Regarding offshore exploration, Al-Naft's official said such operations will be carried out in depths of about 1,800 meters, over an area of 5200 km². "Surveys have shown recently that offshore hydrocarbon potential is very high". Concerning non-conventional resources, Lounes Adour said Algeria ranks third in world reserves.