Algeria Outlines Plans for $60 Billion in Oil and Gas Spending

摘要

Algeria plans to invest $63.5 billion between now and 2013 boosting gas exports and maintaining oil output, Energy Minister Chakib Khelil said in Vienna Tuesday, adding that the projects are viable at oil prices of $40-$50 per barrel. Khelil maintains that Algeria is targeting 100 billion cubic meters per year of exports by 2015; the target date has been pushed back steadily from an original 2010.