Algeria is estimated to have 12.2 billion barrels of proven crude oil reserves at the beginning of 2023. In the year 2022, Algeria exported $16B of Crude Petroleum, making it the 20th largest exporter of Crude Petroleum in the world and crude petroleum was the 2nd most exported product in Algeria. Algeria’s oil fields produce high-quality, light, sweet crude oil with a very low sulfur content. The country's main crude oil grade is the Sahara blend which is a blend of crude oils produced at fields in the Hassi Messaoud region.In December 2019, the Algerian government introduced a new hydrocarbons law meant to attract international investment in the upstream sector. The law reduces taxes across a number of upstream activities and simplifies the contractual agreement structure and other legal procedures for international investors.The Ministry in charge of natural gas is the Ministry of Energy and Mining, a ministry with head office in Tour A in Algiers.