Petroleum Africa
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Wednesday, May 1, 2013
Sonatrach could expand its international operations into East Africa according to Algeria’s official news agency APS. A report from APS quoted Sonatrach chief executive Abdelhamid Zerguine as saying the state-run firm was looking to pick up stakes in Mozambique, where two of its largest foreign producers, Anadarko and ENI, have made massive natural gas discoveries.
Sonatrach, in a bid to expand its international presence, would also be open to pick up Mozambican blocks on its own also.
Zerguine was speaking after signing a MoU with the head of Mozambique’s Empresa Nacional de Hidrocarbonets (ENH), Nelson Ocuane.Zerguine, who said Sonatrach was interested in buying part of a minority stake held by ENH in the offshore gas fields.
“We want to have a place, but on the Mozambican side,” he said.
Zerguine did not offer any details on the potential buy, he did however say that a 5% holding would cost the Algerian NOC around $1 billion.
The MoU also opened the way for Sonatrach to acquire exploration blocks in Mozambique.
“We agreed that Sonatrach will get prospecting blocks to explore alone or in partnership with energy companies operating in Mozambique,” Zerguine was quoted as saying.
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