Algeria recorded $37.5 billion in hydrocarbon export earnings through September 2026, while state-owned energy company Sonatrach made 17 new oil and gas discoveries since the beginning of the year, according to Energy Minister Mohamed Arkab.

The figures were presented during a briefing to the Finance and Budget Committee of Algeria’s National People’s Assembly as part of discussions on the 2027 finance bill. The minister also outlined Sonatrach’s investment growth and a long-term development programme aimed at expanding the country’s hydrocarbon production by 2030.

Sonatrach Investment Exceeds $6 Billion

Sonatrach’s investments exceeded $6 billion by the end of September 2026, compared with $5.3 billion during the same period in 2025, representing a 21% year-on-year increase.

The investment forms part of Algeria’s broader efforts to strengthen exploration and production, develop energy infrastructure and increase the value generated from its hydrocarbon resources.

The 17 discoveries reported since the start of 2026 were achieved through Sonatrach’s own exploration efforts. Their contribution to future production will depend on further assessment and the development of commercially viable reserves.

Algeria Plans $71.6 Billion Investment Programme

Algeria has allocated approximately $71.6 billion for the development of its hydrocarbon sector through 2030.

Of this amount, around $52 billion is earmarked for upstream activities, including exploration and production, while approximately $13 billion is designated for refining and petrochemical projects.

The programme aims to raise Algeria’s primary hydrocarbon production to around 201 million tonnes of oil equivalent by 2030. It also targets an increase in the share of hydrocarbons processed domestically to more than 50% of primary production, from approximately 30% currently.

Planned projects include the new Hassi Messaoud refinery and petrochemical facilities focused on products such as polypropylene and linear alkylbenzene.

Oil Prices Support Export Earnings

Algeria’s hydrocarbon export earnings reached $37.5 billion during the first nine months of 2026. According to Arkab, the average price of Algerian crude oil increased by 37% compared with the same period in 2025, reaching approximately $97 per barrel.

The average price of marketed Algerian gas stood at around $11.30 per million British thermal units during the period.

These price movements helped support export earnings, although future revenues will remain dependent on international energy prices, export volumes and market conditions.

Production and Energy Demand

Algeria’s primary hydrocarbon production reached approximately 128 million tonnes of oil equivalent in 2026, according to the minister’s presentation.

Domestic energy consumption stood at around 59 million tonnes of oil equivalent, driven largely by increased natural gas demand and, to a lesser extent, petroleum products.

The government’s investment and production targets reflect efforts to sustain output, expand domestic processing capacity and maintain Algeria’s position in international oil and gas markets.

The 17 new discoveries, higher investment and planned development programme provide an indication of the sector’s current direction. However, the discoveries’ eventual contribution to production and export revenue will depend on their commercial development and the time required to bring new resources into operation.