National Exploration Effort Needs to Be Stepped up Significantly, Says the Energy Minister

摘要

Algeria's oil reserves are not going to be depleted by 2020, as some analysts think, according to the Minister of Energy and Mines, Mr. Youcef Yousfi, since the country still has considerable potential. There was nevertheless a need to step up the exploration effort very significantly, he said. Quoted by Algerie Presse Service (APS), Mr. Yousfi indicated that exploration activity was going to be increased by over 40% in 2011 relative to 2010 [Editor's note: It was not explained whether this expected 40% expansion related to the number of wells drilled, to the sums to be invested in exploration, or to another criterion]. The exploration effort would be stepped up further in 2012 and 2013, added the Minister. An international exploration bid round is underway, for which bids are due to be submitted in March.