BY: Hana Saada
ALGIERS- In a significant diplomatic and economic development, Algeria’s Minister of Energy and Mines, Mohammed Arkab, extended a warm invitation to Omani investors to explore and invest in Algeria’s energy and mining sectors. This welcoming gesture came during a high-level meeting held at the Ministry of Energy and Mines in Algiers, where Minister Arkab engaged with Sheikh Khalid Ben Hilal Bin Nasser Al-Maawali, the President of the Shura Council of the Sultanate of Oman. The meeting also witnessed the active participation of the Ambassador of the Sultanate of Oman in Algeria, marking a pivotal moment in the two nations’ enduring and fraternal cooperation in the fields of energy and mines.
The Ministry of Energy and Mines revealed that discussions during the meeting primarily revolved around the state of the cooperative relations between Algeria and Oman, which have been characterized as fraternal and excellent. Both sides expressed their keen interest in bolstering these relations further, with a particular focus on energy and mining collaboration. The meeting provided a platform for Minister Arkab to present Algeria’s ambitious development program for the energy and mining sectors, along with the new regulatory frameworks that have been put in place to facilitate hydrocarbon and mining activities, offering a multitude of benefits and incentives for prospective investors.
Minister Arkab passionately emphasized the diverse investment and partnership opportunities that the Algerian energy sector holds, specifically highlighting possibilities in hydrocarbon exploration, development, and exploitation, as well as venturing into the promising petrochemicals domain. The Minister emphasized that Algeria is keen to welcome Omani investments and expertise to harness the full potential of these sectors.
The discussions did not stop at energy alone, as both sides explored the vast potential of the Algerian mining sector. Opportunities in mineral materials exploration, production, and exploitation were explored, alongside the crucial role of mapping in optimizing mining operations. The exchange of experiences and knowledge between Omani companies and their Algerian counterparts was seen as a pivotal step in enhancing the capabilities of the mining sector in Algeria.
Towards the end of the meeting, Minister Arkab and Sheikh Khalid engaged in a strategic dialogue regarding the dynamic evolution of global oil markets. They underscored the joint efforts made by Algeria and Oman within the framework of international cooperation, including OPEC, to stabilize oil markets and ensure their sustainability. This cooperative approach highlights the shared commitment of both nations to promote global energy stability.
As Algeria opens its doors wider to foreign investors, particularly those from Oman, the meeting served as a promising start to what could be a mutually beneficial partnership. With its strategic location and abundant natural resources, Algeria offers an attractive investment landscape. Minister Arkab’s invitation to Omanis sends a clear message: Algeria is ready to collaborate and welcome investments in its energy and mining sectors, aiming for mutual prosperity and sustainable development.
Omani investors, known for their expertise in various industries, have an opportunity to contribute significantly to Algeria’s growth story. As both nations explore new avenues for collaboration, this meeting signifies a pivotal step towards strengthening bilateral relations and fostering economic growth for both Algeria and Oman.
