Foreign direct investment (FDI) in Algeria’s energy sector has reached USD14.01 billion between 2010 and 2015, that is, an annual average of USD2.3 billion, the ministry of Energy has said.
In 2015, the FDI in energy sector stood at USD2.3 billion, up 45% compared with 2014, the ministry underlined in the latest issue of Algerie Energie magazine.
More than 99% of the direct foreign investment in energy have been undertaken in hydrocarbon sector over the last six years.
The projects are estimated at USD13.9 billion, while USD112 million have been invested in other energy fields and sea water desalination.
The development of oil and gas fields has taken up 83% of the FDI in Hydrocarbon sector, that is, USD11.5 billion between 2010 and 2015, of which 26% by Italian ENI, followed by other firms: US (14%), British (14%), Norwegian (14%) and Canadian (8%).
Credit: All Africa