Continental Focus, International Reach

DEA and Sonatrach Sign MoU

Thursday, December 7, 2017

DEA Deutsche Erdoel AG and Algeria’s state-run oil and gas firm Sonatrach signed a Memorandum of Understanding (MoU)aimed at strengthening the cooperation between the two companies. The MoU defines the framework for DEA’s potential participation in additional upstream projects in Algeria.

The agreement was signed in Algiersby Sontrach’s Upstream VP Salah Mekmouche and DEA’s COO Dirk Warzecha.

“This MoU builds on the existing business relationship between DEA and Sonatrach and paves the way for further cooperation of the two companies. It also reflects DEA’s long-term commitment to Algeria and represents a good opportunity for us to access additional business opportunities in one of our core countries,” Dirk Warzecha said.

“DEA has been active in Algeria for more than 15 years. We welcome the opportunity to cooperate withSonatrach in identifying oil and gas projects of common interest in Algeria and we hope that this will result in significant value creation potential for both parties,” adds Sameh Sabry, who is the new General Manager for DEA in Algeria.

DEA participates in the Reggane Nord project in the Algerian Sahara with a 19.5% working interest. Reggane Nord is comprised of six gas fields under development, which are planned to be brought on stream in the coming few months.