Sonatrach, Canada’s Stream-Flo Forge Strategic Partnership with MoU, Confidentiality Agreement

✏️ BY: Dr. Hana Saada

Algiers, Algeria | July 31st, 2024 — Sonatrach, Algeria’s national oil and gas company, and Stream-Flo Industries Ltd., a Canadian firm, signed, on Tuesday in Algiers, a Memorandum of Understanding (MoU) and a confidentiality agreement. The MoU outlines plans to evaluate the potential for creating a joint venture focused on manufacturing components for the oil and gas industry.

The signing ceremony, held at Sonatrach’s headquarters, was attended by Rachid Hachichi, CEO of Sonatrach, and Mark McNeill, CEO of Stream-Flo Industries Ltd. This agreement will frame the collaborative efforts of both parties to assess the feasibility of establishing a joint company specializing in the production of wellhead components, production heads, and related Oil & Gas equipment accessories.

Stream-Flo Industries Ltd. is internationally recognized for its technical and technological capabilities, as well as its expertise in the manufacturing, maintenance, and marketing of wellhead components and production heads, along with their accessories and related services.

The MoU reflects Sonatrach’s strategic goal to enhance its control over its development processes. It emphasizes the company’s commitment to forging high-value partnerships to locally manufacture advanced oilfield equipment, provide related services, and facilitate specialized training, knowledge transfer, and technological exchange. This initiative aligns with Sonatrach’s broader development strategy and aims to boost the local industry’s technological capabilities and self-sufficiency.

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