BY: Dr. Hana Saada
Algiers, Algeria | January 22nd, 2025 — The National Agency for the Valorization of Hydrocarbon Resources (Alnaft) and the American energy giant Chevron signed an agreement on Wednesday in Algiers. The collaboration aims to conduct an in-depth evaluation of Algeria’s offshore hydrocarbon resources, marking a pivotal moment in the country’s energy exploration endeavors.
The agreement was signed by Mourad Beldjehem, President of Alnaft, and Luca Rigo de Righi, Director of New Global Projects for Chevron North Africa Ventures Ltd. The signing ceremony was held under the supervision of Mohamed Arkab, Minister of State, Minister of Energy, Mines, and Renewable Energies, in the presence of Sonatrach’s CEO, Rachid Hachichi, alongside senior officials from the Ministry of Energy, Alnaft, and Chevron.
The two-year partnership will focus on a comprehensive technical and geological study of Algeria’s offshore areas. This initiative represents a strategic step to deepen cooperation between Algeria and Chevron, paving the way for future exploration and development projects aimed at maximizing the country’s hydrocarbon resources.
Minister Arkab emphasized the importance of this partnership, stating, “This collaboration underscores Algeria’s commitment to strengthening its energy sector through strategic international partnerships. Chevron’s expertise in offshore exploration aligns with our vision to harness Algeria’s untapped energy potential responsibly and sustainably.”
The study is expected to leverage advanced technological and geological methodologies, providing a clearer understanding of Algeria’s offshore reserves. It will serve as a foundation for potential exploration and development activities, contributing to Algeria’s long-term energy goals and reinforcing its role as a key player in the global energy market.
Chevron’s representative, Luca Rigo de Righi, expressed the company’s enthusiasm for the partnership, noting, “We are honored to collaborate with Alnaft and bring Chevron’s global expertise to Algeria’s promising offshore sector. This agreement reflects our shared commitment to innovation and sustainable resource development.”
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