Sonatrach’s CEO, Abdelmoumen Ould Kaddour, received his counterpart from the Danish oil company Maersk Oil, Gretchen H. Watkins, in Algiers, who wished to strengthen partnership with Sonatrach by highlighting the importance of Algeria in Maersk Oil’s development strategy, according to Sonatrach on Friday.
At the meeting, both sides have discussed the ongoing partnership projects in Algeria and prospects for investment in oil exploration and production in Algeria.
Mr Ould Kaddour and Mrs. Watkins have also discussed the quality of relations between Sonatrach and Maersk Oil in order to strengthen mutually beneficial cooperation.
On this occasion, Mrs. Watkins has argued that “Algeria is an important country for Maersk Oil’s international development strategy”.
In this sense, Maersk Oil’s CEO has expressed “the desire of his company to invest more in Algeria and strengthen its partnership with Sonatrach”.
For his part, Mr. Ould Kaddour said he was open to any proposal to maintain the excellence of relations between both companies.
He also noted that for Sonatrach, “the partnership contributes positively to the development of the national hydrocarbon industry by taking into account foreign expertise in the improvement and development of industrial processes and technological know-how”.
As a reminder, Maersk Oil has been present in the oil and gas upstream in Algeria for many years, especially in Berkine fields.
A Memorandum of Understanding on Cooperation was inked in October 2016, between the Sonatrach Group and Maersk, which aims to establish a strong partnership, based on a suitable environment for research and realization of new opportunities for cooperation, between both Companies in new projects in upstream oil and gas.
Sonatrach has usually looked for the best ways and means to develop and diversify partnership on a “win-win” basis, by ensuring investment returns and cost optimization, as well as application of new technologies and new business models.
Mrs. Watkins was also received, last Tuesday, by the Minister of Energy, Noureddine Boutarfa.
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