✏️ BY: Dr. Hana Saada
Algiers, Algeria | May 19, 2024 — The Secretary General of the Ministry of Energy and Mines, Mr. Abdelkrim Aouissi, engaged discussions on Sunday with a delegation representing the Russian oil company Zarubezhneft. Led by Mr. Terentev Viacheslav, Vice President overseeing Business Development and Senior Director of International Projects, the delegation’s visit signifies a significant stride in bolstering the collaborative ties between Zarubezhneft and Algeria’s state-owned oil enterprise, Sonatrach.
The meeting served as a platform to explore avenues for deepening cooperation in the exploration, development, and exploitation of hydrocarbon resources within Algeria. Deliberations revolved around assessing the existing rapport between Sonatrach and Zarubezhneft, with an eye toward identifying prospects for further advancement in line with the memorandum of understanding inked under Algeria’s updated hydrocarbons legislation.
Moreover, discussions underscored the potential for joint ventures and investment in critical domains, including the advancement of oil field projects, localized fabrication of equipment for the oil and gas sector, and the augmentation of indigenous content. Both entities stressed the imperative of mitigating emissions and enhancing carbon capture, underscoring a joint commitment to environmental stewardship.
As per the ministry’s statement, there was mutual enthusiasm expressed by both sides to intensify collaboration and foster symbiotic partnerships. These envisioned collaborations are poised to revolve around the mastery of production methodologies, the transfer of knowledge and technical know-how, and the nurturing of domestic training programs and integration initiatives.
The dialogue between Mr. Aouissi and Mr. Viacheslav not only underscored the strategic significance of the energy sector for both nations but also delineated a forward-looking vision. By synergizing their respective competencies, Zarubezhneft and Sonatrach aim to construct a robust framework for cooperation, one that not only advances their commercial interests but also propels the technological and economic evolution of Algeria’s energy landscape.
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