British Ambassador: “Algeria is a stable country politically in the midst of regional turmoil”

The Ambassador of Great Britain to Algeria, his Excellency Mr Andrew Noble, has said that Algeria is a politically stable and militarily secure country, but is at the center of a high-risk regional environment.

He added that Algeria was listed as the second source of supplied energy for Britain during the past year, noting that Algeria is expected to scrap pending hurdles hampering the development of the oil and gas industry.

The unexpected absence of Algerian officials at the recent Summit of the North African Oil and Gas, held at the Sheraton Hotel in the western suburbs of Algiers has raised many questions which have so far remained unfortunately unanswered.

Curiously enough, the Algerian energy Minister and the Sonatrach Group CEO have not attended the outstanding event, albeit of great importance for the development of the national economy as part of a “win-win” partnership.

During the opening ceremony, the British Ambassador urged the British energy companies to invest in Algeria in view of the stability of the country compared to the volatile situation prevailing in neighboring countries.

Mr Andrew Noble pointed out that Algeria is a very reliable partner for foreign investors, especially those of the European Union notably in the energy field.

He also asserted that during his meeting with the Algerian Minister of Energy, he had asked the latter to remove all legal obstacles to enable the development of the oil and gas industry, especially in the light of the difficult economic juncture now prevailing at the international level.

Meanwhile in a related context, the risk consultant for North Africa, Jeff Porter, said hydrocarbon prices are expected continue to plummet during the 3, 5 or even 7 years to come.

For his part, the head of Shell Algeria, Mounir Bouaziz, indicated that his Company has not yet started exploration of the blocks obtained in the fourth tendering.