Algerian state-owned hydrocarbons company SONATRACH has signed a memorandum of understanding (MoU) with German oil and gas company Wintershall Dea.
Under the MoU, the companies will explore the possibility of cooperation in the exploration, development and production of hydrocarbons, both in Algeria and globally.
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SONATRACH stated: “The signing of this protocol aims to strengthen the existing partnership between SONATRACH and Wintershall Dea through the search for new cooperation opportunities.”
Wintershall Dea has been operating in Algeria since 2002. It has helped develop the Reggane Nord project since it came online in 2017.
Reggane Nord Development Project involves the development of six gas fields: Reggane, Azrafil Southeast, Kahlouche, South Kahlouche, Tiouliline and Sali in blocks 351c and 352c of the Reganne basin in the Algerian Sahara desert.
In June, Wintershall Dea signed a contract with AI Software-as-a-Service (SaaS) company Cognite to scale digitalisation efforts across its assets.
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By GlobalDataIn March, Eni and SONATRACH completed the construction of a gas pipeline in the onshore Berkine basin of Algeria.
Last month, Algerian energy minister Abdelmadjid Attar told state radio that the government is anticipating a $10bn drop in oil and gas revenue this year as the Covid-19 pandemic dampened the crude market. In 2019, the OPEC member generated $33bn in revenue from the oil and gas sector.
