The oil and gas group Sonatrach has allocated a financial envelope of 11 billion dollars as part of its five-year plan 2022-2026 to develop the petrochemical and refining industries, Amara Miloud, director of the methods and operations division, reports this Thursday 11 August the official agency.
Mr. Amara underlined that this budget allocated to the implementation of planned petrochemical and refining projects is part of the group’s strategy to supply petroleum materials on the national market and to supply petrochemical raw materials to industry, to SMEs, as well as to reduce imports and foreign exchange transfers.
For his part, Lama Hacène, Director of the Petrochemical Division, spoke about the group’s policy in the processing of crude oil, noting that Sonatrach currently has seven (7) petrochemical processing facilities at the national level which employ more than 3000 workers.
In this regard, the same official who indicated that Sonatrach owns 100% of two installations and five others are carried out within the framework of the partnership.
These facilities enabled the upgrading of approximately 5 billion cubic meters of natural gas per year and the export of more than a billion dollars of petrochemical products during the year 2019.
This number is expected to double during 2022, added the official, noting that the strategy adopted in the short and medium term is to concretize a program of realization of 6 petrochemical development projects, within the framework of the implementation of implementation of hydrocarbon development projects set up by the government to establish the fabric of a petrochemical industry in Algeria and a reduction in the import bill for petrochemical materials.
In this respect, Mr. Lama mentioned the realization of 3 projects with particular efforts by Sonatrach and 3 other projects within the framework of partnership with foreigners.
Translated from : https://www.algerie-eco.com/2022/08/11/sonatrach-11-milliards-de-dollars-pour-developper-les-industries-petrochimiques-sur-la-periode-2022-2026/
