Youcef Yousfi Says Algeria Cannot Fall Behind the Major Oil and Gas Discoveries Being Made Around the World

摘要

Referring to the forthcoming review of the 2005 Hydrocarbon Act (AOG, 1 Jan., 2012), the Minister of Energy and Mines, Mr. Youcef Yousfi, explained at the end of December that "we are witnessing major hydrocarbon discoveries in many regions of the world, and Algeria cannot lag behind. New technologies have been developed in the hydrocarbon industry and promising prospects are opening up for us to develop our great potential." In an interview with the Algerian newspaper El Watan, Mr. Yousfi pointed out that the priority of Algeria's energy policy was to renew and increase its hydrocarbon reserves. "It is a matter of increasing the reserves needed to meet the country's domestic needs, but also of financing the country's economic and social development as well as remaining an active player on the world energy market," he said.