Algeria Oil and Gas Upstream Market Size (2024 - 2029)

The Algerian oil and gas upstream market is anticipated to experience growth over the forecast period, driven by factors such as rising natural gas production and consumption, along with increased investments in the sector. Despite challenges posed by oil price volatility and higher production costs for unconventional resources, the market has rebounded to pre-pandemic levels. Discoveries of substantial natural gas fields in southwestern Algeria present future opportunities for the industry. The growing domestic and global demand for natural gas is expected to further enhance the market's capacity and attract additional investments.

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Market Size of Algeria Oil and Gas Upstream Industry

Algeria Oil and Gas Upstream Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 2.32 %
Market Concentration High

Major Players

Algeria Oil and Gas Upstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

Algeria Oil and Gas Upstream Market Analysis

The Algerian oil and gas upstream market is projected to register a CAGR of around 2.32% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.

  • Over the medium term, factors such as increasing natural gas production and consumption and investments in the oil and gas upstream sector are expected to drive the growth of the Algerian oil and gas market during the forecast period.
  • On the other hand, oil price volatility and comparably higher production costs for unconventional resources are expected to create hindrances for the Algerian oil and gas upstream market during the forecast period.
  • Sizeable natural gas field discoveries have been made in southwestern Algeria. These fields have an estimated capacity to produce 275 cubic meters of gas and approximately 300 liters of condensate per hour, which may provide an opportunity for the oil and gas upstream industry in Algeria in the future.
  • Increasing consumption of oil and gas in the country is expected to drive the market, and it is expected to attract further investments in the onshore gas fields in the country. Increasing demand for natural gas worldwide is also expected to positively impact the growth.

Algeria Oil and Gas Upstream Industry Segmentation

The oil and gas industry explains the stages of operations that entail exploration and production as upstream. The oil and gas industry's exploration and early production stages are the main focus of upstream businesses. 

The Algerian oil and gas market is segmented by location. By location, the market is segmented into onshore and offshore. The report also covers the market size and forecast for the Algerian oil and gas upstream market. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Location
Onshore
Overview
Existing Projects
Projects in Pipeline
Upcoming Projects
Offshore
Overview
Existing Projects
Projects in Pipeline
Upcoming Projects
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Algeria Oil and Gas Upstream Market Size Summary

The Algerian oil and gas upstream market is experiencing a resurgence, having rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The market is poised for growth, driven by increasing natural gas production and consumption, alongside significant investments in the sector. The discovery of substantial natural gas fields in southwestern Algeria presents a promising opportunity for future expansion. However, challenges such as oil price volatility and higher production costs for unconventional resources may pose obstacles. The country's proven oil reserves, primarily onshore, and the high quality of its light crude oil continue to attract interest, as they do not require specialized refineries for processing. The recent production sharing contracts and investments by major companies like TotalEnergies and Sonatrach are expected to enhance the exploitation of liquid hydrocarbons while reducing carbon intensity.

Algeria's oil and gas upstream market is moderately consolidated, with key players including Sonatrach SPA, Engie SA, TotalEnergies SA, BP PLC, and Petroceltic Ain Tsila Ltd. The market's growth is further supported by increasing domestic consumption of oil and gas, as well as rising global demand for natural gas. The government's efforts to boost gas production, particularly by Sonatrach, are anticipated to drive the market forward. Notable developments, such as the discovery of oil and gas in the Zemlet el Arbi concession and the acquisition of gas-producing concessions by Eni SpA, underscore the ongoing expansion and investment in Algeria's oil and gas sector. These activities are expected to contribute to the market's growth trajectory over the forecast period.

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Algeria Oil and Gas Upstream Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Crude Oil Production and Consumption Forecast in thousand barrels per day, till 2025

    3. 1.3 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2025

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE ANALYSIS

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location

      1. 2.1.1 Onshore

        1. 2.1.1.1 Overview

          1. 2.1.1.1.1 Existing Projects

          2. 2.1.1.1.2 Projects in Pipeline

          3. 2.1.1.1.3 Upcoming Projects

      2. 2.1.2 Offshore

        1. 2.1.2.1 Overview

          1. 2.1.2.1.1 Existing Projects

          2. 2.1.2.1.2 Projects in Pipeline

          3. 2.1.2.1.3 Upcoming Projects

Algeria Oil and Gas Upstream Market Size FAQs

The Algeria Oil and Gas Upstream Market is projected to register a CAGR of greater than 2.32% during the forecast period (2024-2029)

Sonatrach SPA, Engie SA, Total S.A., BP PLC and Petroceltic Ain Tsila Ltd. are the major companies operating in the Algeria Oil and Gas Upstream Market.

Algeria Oil and Gas Upstream Market Report Snapshots

Algeria Oil and Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)