✏️ BY: Dr. Hana Saada
Algiers, Algeria | May 19, 2024 — In a statement released this Sunday, the Algerian state-owned oil and gas company Sonatrach announced the signing of a protocol agreement with the Italian company Eni to initiate a new research and exploitation program aimed at maximizing the hydrocarbon potential in the area of interest covering the contractual perimeters of Zemoul El Kbar, Rourde El Louh – Sif Fatima, and Rhourde Messaoud Nord.
According to the statement, this agreement, signed in the presence of Sonatrach CEO Mr. Rachid Hachichi, reflects the parties’ commitment to strengthen their existing partnerships and expand their cooperation. It aims to define the framework for cooperation between the two parties with the prospect of concluding several hydrocarbon contracts in this area of interest, under the auspices of Law No. 19-13, which governs hydrocarbon activities.
This collaboration underscores the mutual interest of Sonatrach and Eni in maximizing the potential of Algeria’s hydrocarbon resources and underscores the importance of international partnerships in advancing the country’s energy sector. Both companies are committed to adhering to best practices in exploration and production activities, ensuring environmental sustainability, and contributing to the socio-economic development of Algeria. The agreement represents a significant step forward in leveraging Algeria’s rich hydrocarbon reserves for the benefit of the country and its people.
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