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Resource: EIA

Algeria is the third-largest oil producer in Africa, after Nigeria andAngola, and the largest natural gas producer in Africa. However, production ofboth oil and natural gas has declined over the past decade. This declining productionhas led the Algerian government to amend its law regarding foreign investmentin hydrocarbons in an attempt to attract the investment and technologyimprovements needed to help stop production declines. In 2014, the national oiland gas company Sonatrach offered 33 blocks located in four sedimentary basinswith high shale gas and oil potential. This auction resulted in Sonatrachsigning five contracts with Repsol, Shell, Statoil, and Dragon Oil-Enel. Bylaw, Sonatrach takes a mandatory majority share (at least 51%) of any resultingprojects.

In May 2014, the Algerian Council of Ministers gave formal approval forforeign partners to join Sonatrach in the exploration and development of shalegas resources.

Algeria has large proved crude oil and natural gas reserves andabundant resources that are already connected to world markets through anextensive natural gas pipeline network. In addition, Algeria has a largeshipping fleet that sends liquefied natural gas (LNG) from several liquefactionplants to customers in Europe and elsewhere.

Proved crude oil reserves totaled 12.2 billion barrels in 2014, with anadditional 9.8 billion barrels of undiscovered oil and natural gas liquids(NGL) resources estimated by the U.S. Geological Survey (USGS), and close to 6billion barrels of technically recoverable shale oil resources estimated byU.S. Energy Information Administration and Advanced Resources International(EIA/ARI). Proved natural gas reserves totaled 159 trillion cubic feet (Tcf) in2014, with an additional 49 Tcf of undiscovered natural gas resources estimatedby USGS and more than 700 Tcf of technically recoverable shale gas resourcesestimated by EIA/AR

Early this year, Sonatrach announced plans to spend $64 billion, or 70%of its total investment program from 2015 to 2018, in upstream activities toreverse the decline in crude oil and natural gas production in Algeria.Sonatrach set a target to increase gross hydrocarbon output from 1,429 millionbarrels of oil equivalent (MMBOE) in 2014 to 1,649 MMBOE by 2019 (from 535 to616 MMBOE of oil and from 894 to 1,034 MMBOE of natural gas).

During the past three years, Sonatrach intensified its explorationactivities by drilling 275 oil and natural gas wells and by seismically mappinglarge areas of the country, with an estimated investment of $30 billion.Sonatrach also conducted its own shale resource assessment and startedexploration activities. Sonatrach's first two vertical shale exploratory wellsdrilled in 2012 confirmed the potential for shale gas. Since 2014, Sonatrachhas been engaged in a pilot project in the shale gas-rich Ahnet basin to drill,hydraulically fracture, and analyze three horizontal wells with up to 14hydraulic fracturing stages.

Although the government seeks to reduce the country's dependence on oiland natural gas revenue, it has also made repeated calls for more investment inthe sector. However, civil unrest and some opposition to the government'scommercialization of shale resources may present obstacles to attractingforeign investment. Security is also a major concern, particularly followingthe attacks that took place at the Tigantourine natural gas processing plant inJanuary 2013 in Illizi Province, near Algeria's eastern border with Libya.

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