Algeria has proven reserves of more than 12.2 billion barrels of oil and 4.3 trillion cubic metres of gas. Currently, there are more than $20 billion of active projects to develop the oil and gas industry in Algeria.
Algeria is the largest gas producer and exporter in Africa. It has more than 4.3 trillion cubic metres of proven natural gas reserves and produced more than 86 billion cubic metres of gas in 2019, of which it exported almost 48 percent. At 12.2 billion barrels of proven oil reserves, it has the third-largest oil reserves in Africa.
Although global demand is down and supply is on the increase, thanks in part to the civil war in neighbouring Libya abating, Algeria has more than $20 billion of active oil and gas projects. Most of these are still in the early stages. ABiQ estimates that construction activity on these projects will peak in the first quarter of 2023.