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Algeria: SONATRACH signs MoUs with OMV and CEPSA

30 Jul 2020

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SONATRACH and OMV signed a Memorandum of Understanding to initiate discussions with a view to identifying the possibilities for both parties to jointly invest in exploration, development and production of hydrocarbons in Algeria.

The Memorandum of Understanding shows the interest of both parties in assessing opportunities for collaboration following the recent promulgation of the new hydrocarbons law.

SONATRACH has also signed a Memorandum of Understanding with CEPSA in order to examine the possibilities of joint investment in the fields of exploration, development and production of hydrocarbons in Algeria. and internationally.

The signing of this protocol will also allow SONATRACH and CEPSA to consolidate their existing partnership, through the search for new cooperation opportunities.

Through the conclusion of this Memorandum, SONATRACH confirms its desire to consolidate its partnership policy, particularly within the framework of the provisions of the Law on Hydrocarbon Activities, which aim in particular to increase hydrocarbon reserves and production levels.

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