Algerian state-owned company Sonatrach announced on Monday the signing of a memorandum of understanding with Saudi-based Midad Energy – North Africa, aiming for the rapid evaluation and development of gas fields located in the Illizi province, situated in the far southeast of Algeria.
The oil and gas producing company shared on its Facebook account that, on the sidelines of the signing ceremony, both parties discussed prospects for cooperation, especially in the fields of hydrocarbon exploration and production, in addition to other areas within the oil and gas value chain, according to the Arab World News Agency.
It’s noteworthy that Sonatrach also mentioned signing two memorandums of understanding with Venezuela’s national oil company for energy cooperation.
Sonatrach stated in a press release that the signing of these memorandums took place on the margins of the seventh summit of heads of state and government of the Gas Exporting Countries Forum, hosted by Algeria.
The press release further clarified that the cooperation areas covered by the memorandums of understanding include the exploration, exploitation, and production of hydrocarbons and the petrochemical sector.
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