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Toufik Hakkar, CEO of Sonatrach has confirmed his participation at African Energy Week 2023 where he will shape conversations around Algeria and Africa’s untapped energy potential in driving the stability of the global energy market.

The African Energy Chamber (AEC), representing the African energy sector, is pleased to announce the participation of Toufik Hakkar, CEO of Sonatrach – Algeria's national oil company (NOC), at this year's African Energy Week (AEW) conference and exhibition.

Taking place from 16 - 20 October in Cape Town, AEW 2023 will host Hakkar in high-level panel discussions around investment and partnership opportunities across Algeria’s hydrocarbons sector.

As the 12th largest oil consortium globally and Africa's largest oil company, boasting 154 subsidiaries across the continent, Sonatrach stands as a pivotal contributor to the sustainable growth of Africa's energy industry. On the natural gas front, the NOC holds the distinction of being Africa's leading gas producer and the world's seventh-largest gas firm.

As Algeria and Africa prioritize the responsible development and efficient utilization of their oil and gas resources for sustainable growth, Sonatrach stands at the forefront of the continent's industrial expansion. The company has forged strategic partnerships with prominent global energy stakeholders and investors, with a shared goal of accelerating the development and monetization of Algeria's abundant reserves, which include 12.2 billion barrels of crude oil and 159 trillion cubic feet of natural gas. This comprehensive effort also extends to the revitalization of Algeria's entire energy value chain.

In the first half of 2023, Sonatrach announced the discovery of ten new oil and gas deposits, a significant milestone in the context of the firm's ambitious $40 billion investment plan for the 2023-2027 period.

In July, Sonatrach further bolstered its profile by entering into a strategic agreement with TotalEnergies for the development of Algeria's hydrocarbon-rich Tin Fouyé Tabankort II (TFTII) and Tin Fouyé Tabankort Sud (TFT sud) fields, while also enhancing the company's liquefied natural gas capabilities.

Sonatrach's expertise extends beyond Algeria's borders, influencing industry expansion in regional and global markets, including Tunisia, Libya, Mauritania, Mozambique, Angola, Nigeria, Italy, Spain, Portugal, England, the Netherlands, and Peru. In early August, the company, in collaboration with partners Eni and bp, successfully resumed operations in Libyan blocks, marking a significant milestone after a 20-year force majeure declaration.

In the downstream sector, Sonatrach plays a pivotal role in fostering the expansion of the African market. It operates Africa's largest refineries and is a significant investor in new ventures. In June, the NOC awarded Petrofac a substantial $1.5 billion contract for the development of the Arzew Industrial Complex in western Algeria. This strategic move aligns with Sonatrach's commitment to meeting the surging demand for petrochemicals, both domestically and across the broader regional and international markets, including Europe and the Asia Pacific.

Furthermore, the company is actively engaged in several significant downstream projects, including the construction of the HMD 3 refinery, the PDHPP project, as well as the development of Skikda Conversion and Steam Cracker downstream facilities.

In the renewable energy sector, Sonatrach has emerged as an early adopter and a driving force. The company has demonstrated its commitment to sustainable energy solutions by entering into a Memorandum of Understanding for collaborative renewables projects with TotalEnergies. Notably, in Sicily, Sonatrach has partnered with the South African global energy firm, Sasol, to spearhead a substantial green hydrogen project of significant scale.

As Sonatrach continues to advance its growth both domestically and internationally, Hakkar’s participation at AEW 2023 stands as a transformative opportunity. It provides the CEO with a strategic platform to engage with African and global counterparts, facilitating discussions and the potential signing of industry-defining agreements.

“Sonatrach's expertise and strategic investments have been transformative across the entire global hydrocarbons and energy value chain. The company has solidified its position as a crucial supplier of gas and oil on a global scale, even amid significant market disruptions resulting from the COVID-19 pandemic and the Russian-Ukraine conflict. As global energy demand experiences a resurgence, Sonatrach's role in shaping the expansion and sustainability of the global energy market only continues to grow,” stated NJ Ayuk, the Executive Chairman of the AEC.

AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.

AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit https://aecweek.com.