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Tuesday, March 17, 2020
Sonatrach, Algeria’s national oil company and US supermajor Chevron have signed a memorandum of understanding (MoU) to initiate joint discussions on partnership opportunities in the hydrocarbon industry, a statement from the state company said on Monday.
The MoU, concluded on March 12, concerns “the opportunities for exploration, development and exploitation of hydrocarbons in Algeria, in particular following the promulgation of the new Algerian law on hydrocarbons,” according to the release.
“This memorandum of understanding confirms the intention of the two parties to develop their partnership in the hydrocarbon industry in Algeria, which should allow mastery and transfer of technologies and know-how in various segments of the oil and gas industry,” added the press release.
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