Protests suspend the long-awaited Exxon, Sonatrach discusssions to hammer out agreement’s details

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Talks between Exxon Mobil and Algeria to develop a natural gas field in Algeria have stalled because of the protests taking place in Algeria for weeks with a view to get rid of the regime, industry sources said.

In this aspect, Irving, Texas-based Exxon entered talks with Sonatrach several months ago to develop a field in the southwestern Ahnet basin, however, negotiations have been suspended by the American company.

Both sides held a meeting last week in Houston, Texas to hammer out details but Exxon opted to suspend the discussions due to the wave of protests in Algeria.

Exxon and Sonatrach declined to comment.

 

Reuters

 

 

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