Algeria’s state energy giant Sonatrach plans to spend $42bn under its latest five-year investment plan for 2023-27, up from the previously-indicated $40bn (MEES, 6 January).
The figures, given by Algerian energy minister Mohamed Arkab on 10 December, imply average annual spending of $8.4bn, around half that of majors TotalEnergies, BP and Chevron and a third of that of ExxonMobil (MEES, 15 December). It’s also around one third of Abu Dhabi NOC Adnoc’s $150bn 2023-27 planned capex and 18% of the low-end of Saudi Aramco’s planned capex for 2023. (CONTINUED - 1017 WORDS)
