Who owns Algeria oil?

Who owns Algeria oil?

Sonatrach
State-owned national oil company Sonatrach, the largest company in Africa, owns roughly 80 percent of total hydrocarbon production in Algeria, while International Oil Companies (IOCs) account for the remaining 20 percent.

Where is oil found in Algeria?

Sonatrach operates the largest oil field in Algeria. Other large producing areas in Algeria include the Ourhoud and the Hassi Berkine complex. Algeria’s largest oil fields are mature.

When did Algeria discovered oil?

Algeria’s first commercial oil discovery was Edjelleh in 1956, followed immediately by the Hassi Messaoud oil field the same year. Production began in 1958.

How many employees does Sonatrach have?

SONATRACH employs nearly 50,000 permanent employees and more than 130,000 people across France. The Group has 154 subsidiaries and participations, of which about fifteen are wholly-owned and operate on a daily basis to value the country’s oil and gas value chain.

Is Algeria rich country?

Algeria is a rich nation and the third most important economy in the Middle East and North Africa, but its people are poor. Reports show that the national rate of poverty in Algeria is as high as 23 percent.

How much is Sonatrach worth?

Overview. Sonatrach is the 12th largest oil consortium in the world, with 154 subsidiaries operating over the entire oil value-chain from upstream, to midstream, and downstream activities. Its gross sales (as of 2002) was 1,530 billion Algerian dinars for a net income of 175 billion.