Boom! Algeria Discovers Large Oil Deposits

This is good news for Algeria, the Nation just hit boom in its resources. The Country's Energy Minister Youcef Yousfi announced Saturday that its national energy firm Sonatrach recently discovered a major oil field with almost 1.3 billion barrels of deposits in Amguid Messaoud, south of the country which is 112 kilometres (70 miles) from Hassi Messaoud, the largest oil field in Algeria.

The Minister further told the nations news agency APS during a visit to the discovery site that the discovery near Amguid Messaoud is “one of the most important that Sonatrach has made in the past 20 years,”.

Yousfi said Sonatrach would have to use non-conventional methods to extract oil from the new field, adding an extra 10 percent to the costs, according to Sonatrach official Said Sahnoun.

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