Petroleum Africa
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Wednesday, October 2, 2019
In a statement on September 30 Sonatrach, Algeria’s state-owned oil and gas firm said it held meetings with US supermajor ExxonMobil to discuss possible partnerships. Sonatrach offered no further details on the meetings that were held on September 25 and 26.
The news follows reports from Sonatrach that it had been holding talks with Chevron in early September.
Sonatrach is looking to boost output to increase revenues after a decline in oil prices hit its budget hard.
The state-run firm had been holding talks with ExxonMobil earlier in the year but reported in March that talks with the US supermajor on developing a gas field had stalled.
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