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Friday, February 19, 2021
The primary production of hydrocarbons by Sonatrach fell in 2020 to reach 176 million tonnes of oil equivalent (TOE), following the application of the agreement to reduce oil production signed between OPEC and its allies, said according to Sonatrach CEO Tewfik Hakkar.
In an interview with the national daily “Liberté”, published Tuesday, Mr. Hakkar stressed that the decline in primary production of the national hydrocarbons company has contributed, within the framework of the OPEC + agreement, to the improving crude oil prices to their pre-crisis levels.
On the national market, the company delivered a volume of 60 million TOE, a level similar to that of 2019. Hydrocarbon exports reached, for their part, 81 million TOE, corresponding to a figure of business of 20.2 billion dollars, said the CEO of SONATRACH.
“It should be noted that despite the difficult market situation, the company was able, for the first time in the last decade, to place volumes of diesel and gasoline on the international market. The level of investment stood at 5.6 billion dollars, 90% of which was granted in the exploration-production segment,” he stressed.
In addition, the volume in place of the 18 new discoveries made in 2020 represents two and a half times that of 2019, with a level of investment halved.
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