At the ADIPEC this year, the Algerian national agency for the development of hydrocarbon resources ALNAFT will launch Exalt, a fully integrated digital platform developed by SLB, enabling global remote access to Algerian subsurface data and “evergreening” products.
According to ALNAFT, this marks an “unprecedented opportunity” for Algeria’s energy market, for investors to explore new plays, prospects, and evaluate the national hydrocarbon domain potential.
The technological platform developed by SLB, is being deployed in conjunction with the newly promulgated Hydrocarbon 19-13 law, governing the hydrocarbon activities. The new law aims to develop the institutional framework and introduce a simplified and competitive tax regime in order to promote foreign partnership in the sector.
The new measures and associated flexibility aim to promote sustainable and optimal development and exploitation of the national hydrocarbon resources, in order to satisfy the needs of both the national and international energy market while promoting the preservation and protection of the environment.
Algeria has a long history of oil and gas exploration and production activities that date back to the 1950’s. Such activities have yielded a vast amount of E&P digitised data, representing one of the key competitive attributes of the country’s oil and gas industry.
Since then, Algeria has been developing and increasing its reserves through its National Oil Company Sonatrach and Joint Ventures with international oil companies and investors.
In terms of potential reserves, Algeria has the tenth largest proven natural gas reserves globally with the third largest unconventional gas reserves, it also holds 12 trillion barrels of proven oil reserves, ranking 16th worldwide.