Algerian reserves are estimated at 1 194 billion barrels of oil.
According to a new study by the National Agency for the valorization of hydrocarbon resources “Alnaft”, unveiled on Monday, Algeria passes from the 11th to the 7th rank in the world for shale oil reserves.
The study ranks Algeria after Russia, the United States, China, Argentina, Libya and Australia, with reserves currently estimated at 1 194 billion barrels of oil, against 176 billion in previous studies carried out in the period 2012-2013.
For the shale gas reserves, the same study reclassifies Algeria to the third position after the United States and China, with an estimated reserve of 9,818 TCF (Trillion cubic feet), compared to 6,025 TCF in old studies.
The Alnaft study, which covered more than one million square kilometers, was conducted in collaboration with three international oil companies. It is part of a series of studies on the Algerian hydrocarbon potential, which also includes four studies on the potential of offshore gas and oil, said the director of promotion of the mining sector in Alnaft, Mahmoud Djidjeli, during a technical workshop on geosciences.
The study that affected the areas of Ahnet-Timimoune, Oued Mya-Mouydir, Tindouf, Reggane and Berkine-Illizi, found a significant jump in unconventional reserves amounting to 30% for gas and 250% for oil, said the same official.