Market Size of Algeria Oil and Gas Upstream Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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.
