Minister of Energy and Mines Youçef Yousfi: “Algeria wants to impose transfer of technology in hydrocarbons”

Algeria wants to condition the opening of its oil and gas fields to foreign companies through the transfer of technologies, the Minister of Energy and Mines, Youçef Yousfi, announced on Monday from Montreal, Canada. 

• “In the future, it will be a priority for all sectors. We will work with partners to help us make our equipment in Algeria, particularly in oil and gas industry”, Yousfi told APS following its meeting with business community in Quebec.
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• So far, Algeria did not require transfer of know-how in exchange for contracts for the exploration and production of hydrocarbons. The minister wants to break with this method. It comprises part of the Algerian Diaspora in Canada in order to achieve this goal.
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• “I gave a number of messages to the community to become more involved in the process of manufacturing facilities in Algeria by participating in the oil industry including mining and it has an important know-how”, he added.
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• Algeria wants most to require companies to invest in oil services and manufacture equipments and spare parts for gas installations. Currently, these products are imported.
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• “There is need for a stronger partnership in the industrial field, a partnership for manufacturing equipment and technology transfer and not a vendor-buyer partnership”, he asserted.
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• Sonatrach will also involve Algerian companies in manufacturing equipment for the oil and gas industry.