Algeria announces 17 new oil and gas discoveries since January 2026

Algerian Energy Minister Mohamed Arkab announced that the state-owned company Sonatrach has made 17 new oil and gas discoveries since the beginning of 2026. During a presentation to the Parliament's Finance and Budget Committee regarding the 2027 finance bill, Arkab reported that primary hydrocarbon production reached approximately 128 million tonnes of oil equivalent.

Hydrocarbon export revenues benefited from a 37% increase in the average price of Algerian crude oil compared to the same period in 2025. Total export revenues reached $37.5 billion by the end of September 2026. Sonatrach's investments exceeded $6 billion by the end of September 2026, representing a 21% increase from the $5.3 billion recorded during the same period last year.

Algeria aims to increase primary hydrocarbon production by an average of 2% annually between 2023 and 2027, targeting 209 million tonnes of oil equivalent by 2027. To support these goals, Sonatrach has allocated $50 billion for investments between 2024 and 2028 to enhance exploration and production capabilities.