Continental Focus, International Reach

Sonatrach’s New Chief to Develop Partnerships with Foreign Firms

Sunday, May 5, 2019

Sonatrach’s new chief executive, Rachid Hachichi, says he wants to develop its partnerships with foreign firms in order to aid in boosting output and exports. Hachichi, Sonatrach’s former head of production and exploration, was named chief executive on April 23, replacing Abdelmoumene Ould Kaddour.

“Our group will continue to develop partnerships with foreign firms seeking to invest in Algeria,” he said in a message to mark Labor Day, Algeria’s state news agency reported

“Partnerships are an essential element in our development strategy, especially in the field of production and exploration,” he said.

His statement is in line with moves made by the former CEO to attract foreign investors by resolving a series of disputes with oil majors including France’s Total, Italy’s ENI and Spain’s Repsol.

“We will work to improve the professional climate so that everyone will have a favorable environment,” Hachichi said, after workers at some Sonatrach oil and gas facilities had protested to demand higher wages and better working conditions.