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Sunday, July 1, 2018
Sonatrach says it expects to sign a shale development agreement with ExxonMobil by the end of 2018. The news was revealed by the company’s chief executive Abdelmoumen Ould Kaddour.
“We’re looking at their experience in shale and would like them to be involved with us,” Kaddour told Reuters on the sidelines of the World Gas Conference in D.C.
Kaddour and Exxon started talking six months ago about a potential deal. Seven Exxon employees are in Algeria inspecting the country’s geology and other factors for a possible agreement, Kaddour said.
“We’ll probably see an Exxon agreement soon, before the end of the year,” he said.
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