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Algeria's Sonatrach to raise energy output to 200 mln TOE this year, says CEO-

January 19, 2023

ALGIERS, Jan 18 (Reuters) - Algeria will raise hydrocarbons output to around 200 million tonnes of oil equivalent (TOE) this year, a figure it has not managed since 2010, state energy producer Sonatrach's chief executive Tewfik Hakkar told Reuters on Wednesday.

Sonatrach will also sign new agreements with Italian energy company Eni this year, including on electricity supply, Hakkar said in the interview, ahead of next week's visit to Algiers by Italian Prime Minister Giorgia Meloni.

Algeria's energy sector had faced years of decline over the past decade, partly prompted by lower oil prices, but rebounded last year after Russia's invasion of Ukraine and the issuance of a new law governing investment.

Sonatrach has not yet published production figures for 2022, but its published 2021 total output figure was 185 million TOE.

'My number one priority is to make sure the company registers growth in reserves and production for next year and the following years,' said Hakkar in an interview at Sonatrach's Algiers headquarters.