176M TOE of Primary Hydrocarbon Production in 2020

Source: www.gulfoilandgas.com 2/16/2021, Location: Africa

The primary production of hydrocarbons by the national company “SONATRACH” fell in 2020 to reach 176 million tonnes of oil equivalent (TOE), following the application of the oil production reduction agreement signed between OPEC and its allies, said SONATRACH CEO Tewfik Hakkar.

In an interview with the national daily “Liberté”, published on Tuesday, Mr. Hakkar stressed that the decline in the primary production of the national hydrocarbons company contributed, within the framework of the OPEC + agreement, to the improving crude oil prices to their pre-crisis levels.

On the national market, the company delivered a volume of 60 million TOE, a level similar to that of 2019. Hydrocarbon exports reached, for their part, 81 million TOE, corresponding to a figure of business of $ 20.2 billion, said the CEO of SONATRACH.

“It should be noted that despite the difficult market situation, the company was able, for the first time in the last decade, to place volumes of diesel and gasoline on the international market. The level of investment stood at 5.6 billion dollars, 90% of which was granted in the exploration-production segment ”, he stressed.

In addition, the volume in place of the 18 new discoveries made in 2020 represents two and a half times that of 2019, with a level of investment halved.

Asked about the evolution of Sonatrach 50 years after the nationalization of hydrocarbons, Mr. Hakkar estimated that the company has built a “solid” industry covering upstream and downstream oil and gas activities with 177 deposits in particular. of hydrocarbons in operation and 77 fields in the development phase, a major pipeline transport network, six oil and condensate refineries and a maritime transport fleet.

During the past year marked by the health crisis, SONATRACH continued to operate at its various sites in the South and North of the country, using its internal resources and those of local companies, “which has made it possible to facing the demobilization of foreign contractors operating on its projects and facilities ”, according to the CEO.

Following the Covid-19 crisis, SONATRACH was able to reduce its investment and operating expenses in 2020 by more than $ 6 billion compared to 2019, mainly foreign exchange expenses which were reduced by 9 billion dollars in 2019 to less than 5 billion dollars in 2020.

Regarding the partnership, the national hydrocarbons company joined forces with the French group “Total” for the construction of a propane dehydrogenation unit and production of 550,000 tonnes per year of polypropylene (PDH-PP) in Arzew . A similar project in partnership with the Turkish company “Ronesans”, with a production capacity of 450,000 tonnes per year of polypropylene, will also be carried out in Turkey.

“Also, we are discussing and studying with our partners other petrochemical projects related to the production of plastic, methanol and phosphate. These projects will have a considerable impact on the national economy, ”Hakkar said.

Regarding competition on the European energy market, the CEO of SONATRACH indicated that the public company, a traditional supplier to the European market, was part of a long-term strategy, aiming “on the one hand, to consolidate its shares in its traditional markets and, on the other hand, to maximize its income while satisfying a constantly growing national demand. ”(APS)

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