Algeria Oil and Gas Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 1.53 Million barrels per day |
| Market Volume (2029) | 1.81 Million barrels per day |
| CAGR (2024 - 2029) | 3.41 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Algeria Oil and Gas Market Analysis
The Algeria Oil And Gas Market size in terms of production volume is expected to grow from 1.53 Million barrels per day in 2024 to 1.81 Million barrels per day by 2029, at a CAGR of 3.41% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing oil and gas investments, increasing refining capacity, and plans to improve oil production are expected to increase the growth for the Algeria oil and gas market.
- On the other hand, the lack of investments by the government due to high domestic spending is expected to restrain the market.
- Nevertheless, major changes in legislation regarding the oil and gas industry are expected to attract multinational and local companies to compete further and increase the market growth. The upstream sector is the largest segment of the Algeria oil and gas industry which would likely dominate the market.
Algeria Oil and Gas Market Trends
Upstream Sector to Dominate the Market
- Algeria ranked tenth amongst the countries with the largest proven natural gas reserves, fourth largest gas exporter, and third largest untapped shale gas reserves as of 2023. Similarly, the country ranked sixteenth to have the largest proven oil reserves, which export nearly sixty per cent of the global production as of 2023. As per Sonatrach, the national oil company, approximately two-thirds of the country's area remains unexplored, which signifies the immense potential for the development of the oil and gas market as a whole in the coming years
- In 2022, Sontrach and Eni declared a considerable quantum of oil & gas discoveries at the Zemlet el Arbi concession, estimated to have about 140 million barrels of oil. With this discovery, Eni and Sonatrach persist in the field and infrastructure-led exploration strategy, thus benefitting the development of the upstream segment and the comprehensive growth of Algeria's oil and gas market.
- According to the Organization of the Petroleum Exporting Countries, in March 2023, the country's crude oil production accounted for 1,013.000 barrels per day which was a little low from the previous month's production of 1,017.000 barrels per day. With the increasing exploration activities in the upstream sector, crude oil and gas production is expected to increase in the forecast period.
- Moreover, in April 2023, Algeria's state-owned energy company, Sonatrach, reported six new oil finds. Two wells were discovered in Amguid, east-central Algeria, with one producing over 5,599 barrels of crude oil and more than 170,000 cubic metres of gas per day.
- Hence, the upstream sector is expected to dominate the market due to the increase in the consumption of oil and gas and changes in the regulations in the country's tax regime.
Increase in Oil and Gas Investments to Drive the Market
- Algeria has the world's tenth-largest proven natural gas reserves, the fourth-largest gas exporter, and the third-largest new shale gas resources. It also has the fifteenth largest proven oil reserves and exports around 60% of its output.
- Sonatrach and its subsidiaries dominate Algeria's oil and gas industry. They control around 80% of Algerian hydrocarbon production, with International Oil Companies (IOCs) accounting for 20%. As the country has a good amount of proven natural gas reserves, thus, investments are supposed to grow in the upcoming period to explore new oil.
- In January 2022, Sonatrach, Algeria's state-owned oil and gas company, announced plans to invest USD 40 billion over the next three years in oil exploration, production, refining, gas exploration, and extraction. The company is expected to further invest in the oil and gas sector of the country in the forecast period.
- According to Baker Hughes rig counts, as of May 2023, total active rigs in Algeria accounted for 32 units, which is expected to increase with increasing investments in oil and gas exploration.
- Hence, an increase in investments in the industry is expected to drive the Algeria oil and gas market as more oil and gas production and refining capacity are likely to grow further.
Algeria Oil and Gas Industry Overview
The Algerian oil and gas market is semi-consolidated. Some of the major players in the market (in no particular order) include Eni S.p.A., Sonatrach S.p.A., China National Petroleum Corporation, Equinor ASA, and BP Plc.
Algeria Oil and Gas Market Leaders
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Eni S.p.A.
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Sonatrach S.p.A.
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China National Petroleum Corporation
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Equinor ASA
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BP Plc
*Disclaimer: Major Players sorted in no particular order
Algeria Oil and Gas Market News
- July 2022: Eni and Algerian national oil company Sonatrach reported finding large oil and gas deposits in the Sif Fatima II concession in the Algerian desert's Berkine North Basin. The Rhourde Oulad Djemaa Ouest-1 (RODW-1) exploration well, the third of five to be drilled in the concession by Eni and Sonatrach, is part of a more significant effort to advance upstream activity in the North African country.
- July 2022: The Production Sharing Contract (PSC) was signed by Eni and TotalEnergies with Algerian state-owned national oil company SONATRACH, and American exploration firm Oxy is expected to assist the North African country in addressing some of the critical challenges impeding its hydrocarbons market growth.
Algeria Oil and Gas Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Natural Gas Production and Forecast, till 2028
4.3 Oil Production and Forecast, till 2028
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.1.1 Increase in Oil and Gas Investments
4.6.1.2 Increasing Refining Capacity, and Plans to Improve Oil Production
4.6.2 Restraint
4.6.2.1 The Lack of Investments By the Government Due to High Domestic Spending
4.7 Supply Chain Analysis
4.8 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Sector
5.1.1 Upstream
5.1.2 Midstream
5.1.3 Downstream
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Eni S.p.A.
6.3.2 Sonatrach S.p.A.
6.3.3 China National Petroleum Corporation
6.3.4 Equinor ASA
6.3.5 BP Plc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Major Changes in Legislation Regarding the Oil and Gas Industry
Algeria Oil and Gas Industry Segmentation
The oil and gas market is one of the significant sectors across all industries that play a critical role in the development of the global economy. The oil and gas sector is an entire value chain comprised of upstream, midstream, and downstream segments. The upstream segment oversees the exploration and production of hydrocarbons, whereas the midstream segment has transportation and storage activities. The downstream sector includes the refining and distribution business.
Algeria oil and gas market is segmented by sector. By sector, the market is segmented into upstream, midstream and downstream. The report also offers market size and demand forecasts for the segment based on production volume.
| Sector | |
| Upstream | |
| Midstream | |
| Downstream |
Algeria Oil and Gas Market Research FAQs
How big is the Algeria Oil and Gas Market?
The Algeria Oil and Gas Market size is expected to reach 1.53 million barrels per day in 2024 and grow at a CAGR of 3.41% to reach 1.81 million barrels per day by 2029.
What is the current Algeria Oil and Gas Market size?
In 2024, the Algeria Oil and Gas Market size is expected to reach 1.53 million barrels per day.
Who are the key players in Algeria Oil and Gas Market?
Eni S.p.A., Sonatrach S.p.A., China National Petroleum Corporation, Equinor ASA and BP Plc are the major companies operating in the Algeria Oil and Gas Market.
Algeria Oil and Gas Industry Report
The Algeria Oil and Gas Market Report provides a comprehensive analysis of the market segmented by sector, including upstream, midstream, and downstream. This report offers detailed market size and demand forecasts based on production volume. The industry forecast highlights the expected trends and developments in the market, while the industry growth section provides insights into the factors driving the market's expansion. Additionally, the report includes an industry overview that presents a historical perspective and an industry outlook that projects future market conditions.
The report covers essential industry information, such as market share and industry statistics, to give a complete picture of the market dynamics. It includes a market forecast that predicts future trends and market growth, helping stakeholders make informed decisions. The industry analysis section delves into the key drivers, challenges, and opportunities within the market. Furthermore, the report offers a market overview and market predictions for various segments, ensuring a thorough understanding of the market structure.
Industry reports and research companies have contributed to this analysis, providing valuable market data and insights. The report also includes a market review that summarizes the key findings and a market segmentation analysis that breaks down the market into different segments. The market value section highlights the economic significance of the market, while the market outlook provides a forward-looking perspective.
The report is available as a report pdf for easy access and reference. It also includes an analysis pdf and a report example to illustrate the findings. The research covers the largest companies in the market, offering insights into the market leaders and their strategies. The report concludes with a discussion on industry trends and market trends, providing a comprehensive overview of the Algeria Oil and Gas Market.
Algeria Oil and Gas Market Report Snapshots
