Algeria : brain drain has cost the country 165 billion dollars in 30 years

His Excellency, President Abdelaziz Bouteflika of Algeria. Photo : RR

Casablanca (ADV) – State-owned oil and gas company Sonatrach, the backbone of Algeria’s economy, is reeling under an acute brain drain as its recent discoveries fail to offset the decades long depletion of the country’s hydrocarbon resources.

The company has lost 16,000 of its brilliant minds in the last eight years deplored Sonatrach officials in statements to Algerian media outlets.

“Sonatrach has lost 16,000 of its finest executives and engineers specializing in activities linked to hydrocarbons in the last eight years,” CEO Adelmoumen Ould kaddour told journalists in Annaba.

He described such a brain drain as “acute bleeding,” adding that the company is working on measures to train new managers.

© Bur-csa – ADV