The Algerian national oil company Sonatrach has signed a memorandum of understanding with the Chinese oil and gas conglomerate Sinopec to pursue exploration and development of underground fuel resources.
Sonatrach said in a statement, on Friday, that the two sides intend to expand cooperation in exploring and developing complex underground traps. They also plan to coordinate in the renewable energy field, petrochemicals, oil engineering and develop personnel’s skills in the energy sector.
The MoU was signed by Sonatrach Director General Rashid Hashishi and the head of the Sinopec complex in China, Ma Yongsheng, during a visit by the Algerian company’s chief to the Asian nation.
Sinopec has been operating in Algeria since 2002, with operations at Zarzaitine site carried out in line with a contract inked in May 2022.
Source: Kuwait News Agency