✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 13th, 2024 — Algerian state oil and gas company Sonatrach has signed a memorandum of understanding (MoU) with American energy giant Chevron, as reported by the national public television channel.
The MoU aims to bolster energy capabilities in the Ahnet and Berkine basins, which are key areas of interest for both companies. The collaboration focuses on enhancing operational efficiency, utilizing cutting-edge technology, and adhering to best practices in sustainability and environmental protection.
This memorandum establishes a platform for discussing opportunities in hydrocarbon resource development within the Ahnet and Berkine basins. By leveraging the strengths of both Sonatrach and Chevron, the partnership seeks to optimize resource extraction and management, ensuring long-term benefits and environmental stewardship.
The signing ceremony took place at Sonatrach’s headquarters and was overseen by the group’s CEO, Rachid Hachichi. The event was also attended by Liz Schwarze, Chevron’s Vice President in charge of exploration. The high-level participation underscores the importance of the agreement for both companies.
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