Algeria’s state-owned energy firm Sonatrach expects to sign in the coming days an agreement with Chevron that is set to boost the country’s natural gas production, Algerian Energy Minister Mohamed Arkab has said. The deal with the U.S. supermajor will be signed “within the next few days,” Arkab told state television in an interview carried by Bloomberg.
Algeria holds huge conventional natural gas reserves, and it is also estimated to have the third–largest shale gas reserves in the world after China and Argentina. Early last year, the Wall Street Journal reported that Chevron had increased efforts to reach an energy exploration agreement with Algeria and was assessing the North African country’s estimated huge shale gas resources.
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