Germany-based DEA Deutsche Erdoel has signed a memorandum of understanding (MoU) with Algerian state-owned company Sonatrach to strengthen mutual cooperation and define the framework for opportunities in additional upstream projects in Algeria.
The MoU is expected to enable DEA to explore further prospects in the country.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company is an international operator in the field of exploration and production of crude oil and natural gas, with shares in production facilities and concessions in, among others, Germany, Norway, Denmark, Egypt, Algeria and in Mexico.
DEA Deutsche Erdoel chief operating officer Dirk Warzecha said: “This MoU builds on the existing business relationship between DEA and Sonatrach and paves the way for further cooperation of the two companies.
“It also reflects DEA’s long-term commitment to Algeria and represents a good opportunity for us to access additional business opportunities in one of our core countries.”
The company’s Reggane Nord project in the Algerian Sahara includes the gas fields of Reggane, Azrafil Sud-Est, Kahlouche, Kahlouche Sud, Tiouliline and Sali.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataDEA Algeria general manager Sameh Sabry said: “We welcome the opportunity to cooperate with SONATRACH in identifying oil and gas projects of common interest in Algeria and we hope that this will result in significant value creation potential for both parties.”
In 2002, the company signed a production sharing agreement with Spain’s Repsol and Italy’s Edison for block 351c and 352c in the Reggane Nord region.
The consortium issued the permit to develop the six gas fields in 2012.
