![Sonatrach, Occidental Petroleum Sign Agreement to Expand Hydrocarbon Partnership](http://www.dzair-tube.dz/en/wp-content/uploads/2024/10/9df01b5fd54a7abd54bd50348ff23660_M.jpg)
BY: Dr. Hana Saada
Algiers, Algeria | October 15th, 2024 — Sonatrach, Algeria’s state-owned oil and gas company, has signed a protocol of agreement with U.S.-based Occidental Petroleum Corporation (Oxy) on Tuesday in Oran, aiming to strengthen their existing partnership and explore new opportunities in the hydrocarbon sector. The agreement was formalized during the 12th edition of the North Africa Petroleum Exhibition and Conference (NAPEC), underscoring both parties’ commitment to enhancing collaboration.
The newly signed protocol sets the framework for future cooperation, particularly focused on concluding a hydrocarbon contract for the Berkine Centre area. This partnership will be governed under Algeria’s Hydrocarbons Law 19-13, which regulates the sector’s activities, according to a statement issued by Sonatrach.
Sonatrach and Occidental Petroleum, alongside two other partners, have been jointly operating in the Berkine contract area since July 19, 2022, as part of a previous hydrocarbon agreement. This latest accord marks a significant step towards expanding their joint ventures in oil and gas exploration and development, reflecting the growing synergy between Algeria and its international energy partners.
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