Algeria’s Minister of Hydrocarbons has outlined the sector’s development and financial programmes, with USD71bn in planned investments by 2030 aimed at strengthening oil and gas exploration and production, while attracting international investment and partnerships (Algerian Press Service, 17/10/2026).
Regarding development prospects, the Minister of State said the sector aims to increase primary hydrocarbon production to nearly 201 Mtoe by 2030 and raise the share of hydrocarbons processed and upgraded to more than 50% of primary production, compared with approximately 30% currently.
To achieve these objectives, “an investment envelope of nearly USD71.6bn has been allocated to the development of hydrocarbon activities, including USD52bn for upstream operations and nearly USD13bn for refining and petrochemical projects”, the minister stated.
Reviewing the sector’s performance in 2026, he reported that 17 new discoveries had been made since the beginning of the year, while primary hydrocarbon production had increased to approximately 128 Mtoe.
The minister also noted that the international tender “Algeria Bid Round 2026”, covering seven exploration blocks, had attracted interest from around 60 companies. Of these, 21 companies met the requirements to access the available technical data packages, which have been accessible since June 2026.
Algeria’s hydrocarbon export revenues reached USD37.5bn between January and the end of September 2026, supported by a 37% increase in the average price of Algerian crude oil compared with the same period in 2025.
Highlighting growing European demand for Algerian gas, the minister also referred to the renewal and signing of long-term gas supply contracts with several partners, including Italy, Spain, Slovenia, the Czech Republic and Germany.