Continental Focus, International Reach

ExxonMobil Eying Algeria

Thursday, March 8, 2018

 US supermajor, ExxonMobil, is said to be showing an interest in Algeria’s oil and gas sector. Algeria plays host to just about every major E&P firm, except for ExxonMobil, but that could change, according to Abdelmoumen Ould Kaddour, head of state-run Sonatrach,

“It is important to highlight that a big major Exxon Mobil has shown an interest to come to Algeria,” Ould Kaddour told reporters, without expanding on the details.

Ould Kaddour also said he had resolved 80% of the state firm’s disputes with foreign firms, while Sonatrach had been able to fulfill gas supply contracts with Europe this winter despite rising domestic demand.

Algeria has been working on a new energy law to provide better incentives for foreign firms, which had been deterred by current terms.