Sonatrach and American “Occidental Petroleum” sign  memorandum of understanding

On Tuesday, Sonatrach and its partner Occidental Petroleum Corporation (Oxy), headquartered in the United States, signed a memorandum of understanding that reflects the desire of both  sides to  bolster their relations and expand cooperation.

The agreement, according to a statement by the group, was signed at the conference center in Oran, western Algeria,  and aims to strengthen existing relations and expand cooperation, through new partnership opportunities in the fields of exploration and exploitation of hydrocarbons.

This memorandum of understanding focuses on defining the framework of the partnership between the two parties concerned with the aim of concluding a hydrocarbons contract in the Berkine Central region, within the framework of Law No. 19-13 regulating hydrocarbons activities.

As a reminder, Sonatrach and Oxy, along with two other partners, are operating the Berkine contract area, within the framework of the hydrocarbons contract concluded on July 19, 2022.