Petroleum Africa
Find us on: 
Monday, July 11, 2016
In response to Total’s news that it was seeking arbitration against it, Algeria’s state-run oil firm Sonatrach is in the midst of preparing to counter the French firm’s claims.
“We take note of the Total arbitration decision and we will prepare to counter it vigorously,” said a Sonatrach statement.
In the statement Sonatrach said it did not anticipate the legal action by Total to have much impact.
Total revealed in early July that it had filed a request for arbitration against Algeria for changing profit-sharing terms on oil and gas contracts, or basically on the effects of the windfall tax that was put into place in mid-2000s.
Total said that attempts to reach a mutual agreement had failed.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
