23/05/2006
The 2006 KPMG investors' report indicated Algeria is the largest gas and oil producer and exporter in the Mediterranean region. Algeria is ranked 15th in the world in oil reserves, 18th in terms of production and 12th in energy exports. Algerian refining capacities were estimated at 22 million tonnes per year in 2005, while proven hydrocarbon reserves stand at 45 billion tonnes in oil equivalent. Based on proven natural gas reserves, Algeria was ranked fifth in gas production and third in exports. Algeria holds 50 per cent of total oil and gas reserves in the Mediterranean region and accounts for 94 per cent of total natural gas exports, the report stated. (Liberte)