June 9, 2024 | 4 days ago

Sonatrach and the Chinese company Sinopec: Signing of a Memorandum of Understanding

On Friday in Beijing, the Sonatrach Group proceeded to sign a Memorandum of Understanding (MoU) with the Chinese company "Sinopec" aimed at strengthening their existing relations and expanding their cooperation by exploring new partnership opportunities, according to a statement from Sonatrach.

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The document was signed at the headquarters of the Chinese company, in the presence of the CEO of the Sonatrach Group, Rachid Hachichi, and the CEO of "Sinopec," MA Yongsheng, along with senior executives from both companies.

This memorandum of understanding "aims to strengthen the existing relations between the two companies and expand cooperation by exploring new partnership opportunities across the entire hydrocarbon value chain, particularly in the areas of exploration and development of complex reservoirs, renewable energies, petrochemicals, petroleum engineering, and skills development," explained the group.

This signing took place during a working visit by Mr. Hachichi to the People's Republic of China, accompanied by a delegation of senior executives from Sonatrach.

The statement also recalled that "Sinopec" has been present in Algeria since 2002 and operates the Zarzaitine field with Sonatrach under a hydrocarbon contract signed in May 2022, under the auspices of Law No. 19-13 governing hydrocarbon activities.

June 11, 2024 | algeria-logo