Continental Focus, International Reach

Algeria and Russia Pledge Further Cooperation

Monday, August 3, 2015

Algeria and Russia are looking to expand their cooperation in the energy sector.  The two countries agreed to intensify efforts to expand cooperation, Russian energy minister Alexander Novak said after a meeting of the Russia-Algeria intergovernmental commission in Moscow.

Firms out of Russia such as Gazprom Neft, Lukoil, Russneft, and Bashneft, are interested in entering the Algerian oil and gas sector. Russian firms are already active in the oil and gas sector with Gazprom announcing an oil and gas discovery in late-2014 on the El Assel Block. Then there is Rosneft and Stroitransgaz who work with Sonatrach on developing oil and gas reserves within the Block 245 South, which includes two oil fields and one gas field.


« GO BACK