By John Ikani
Algeria’s national oil company, Sonatrach, has announced six major new oil and gas discoveries in the first quarter of 2023.
In a statement released on Tuesday, the company confirmed that two of the finds were gas fields with “significant oil and gas potential” located in the Amguid Messaoud basin.
While noting that the Berkine basin yielded two new discoveries of oil and condensate gas, the statement added that there was another discovery in the Oued Mya basin.
In the Ohanet region, Sonatrach discovered a significant new reserve of condensate gas.
Sonatrach’s exploration success is not new, according to company data.
Between 2020 and the end of 2022, the company discovered 35 oil and gas fields.
One of these fields was jointly developed with the Italian energy company Eni.
However, these latest finds mark a particularly promising development for the Algerian oil and gas industry, which has been facing challenges posed by the COVID-19 pandemic.
