Ould Kaddour: US Energy Giant “ExxonMobil” Dubs Algeria A Safe And Stable Country

The CEO of the National hydrocarbons Company Sonatrach, Mr. Abdelmoumene Ould Kaddour said that ExxonMobil expressed satisfaction at the high level of security and stability in Algeria, thus paving the way for investment by this global energy giant in Algeria in the near future.
Exxon Mobil is considering investing in Algeria for the first time, a sign the country is becoming “more attractive”, he stated on Wednesday.
“We have had three meetings with Exxon Mobil and we are expecting to conclude with (Exxon) soon,” Sonatrach CEO Abdelmoumene Ould Kaddour told reporters on the sidelines of an oil and gas conference held in the city of Oran (western Algeria).
“The relevant meetings took place in Algiers,” Mr. Ould Kaddour said, without giving further details.
He said an improved security environment across Algeria had contributed to growing interest from foreign energy firms.
Mr Ould Kaddour is striving to revamp Sonatrach and upgrade relations with foreign partners in an effort to entice them to engage in fresh investments and boost energy production.
Let’s recall that “ExxonMobil” is the largest oil company in the world.