Algeria, which has been among the chief critics of Saudi Arabia's plan to defend OPEC's market share instead of oil prices, now appears to be following its own plan to shore up influence in the global market, the head of Sonatrach indicated. "Our objectives for medium-term investment over the period 2015-2019 are aimed at reinforcing Algeria's position in international oil and gas markets while continuing to meet the needs of the steadily evolving domestic market," Sonatrach CEO Amine Mazouzi told Platt news.

Mazouzi listed several key areas requiring investment: oil and gas exploration, efforts to maintain or increase production from existing fields, refining sector development, expansion of pipeline networks and LNG production capacity, and petrochemicals development, in his opening speech at a science and technology forum hosted by the state petroleum company.

 He said Sonatrach was conscious of its role in supporting Algeria's economic growth by boosting oil and gas reserves in an economic manner in order to raise production levels and respond to domestic and international energy demand as well as the need to control costs and operate in a socially and environmentally responsible manner. The same strictures would also apply to contractors supplying goods and services to Sonatrach, he added.

"We will maintain a good level of investment and ensure optimization and performance over the entire [value] chain," Mazouzi said.

 However according to Sonatrach's former acting CEO, Said Sahnoun, the company had made a decision to maintain its strategic investment plan for the 2015-2019 period, despite lower oil prices.