SONATRACH signs MoUs with TPAO and Zarubezhneft

Algeria’s national oil company SONATRACH has signed two Memorandums of Understanding (MoU) with the Russian company Zarubezhneft and the Turkish company Turkiye Petrolleri Anonim Ortaklioi (TPAO), it announced in a statement.

The two agreements ‘will allow to initiate joint discussions on the opportunities concerning the exploration, development and exploitation of hydrocarbons in Algeria in particular following the promulgation of the new Algerian law on Hydrocarbons’, underlined the company.

These agreements will allow, in particular, ‘the revival of the exploration activity in partnership and a fair sharing of risks in this capital activity’.

Source: Energy-pedia