Hydrocarbons: Sonatrach, international company OMV sign MoU

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ALGIERS- National oil company Sonatrach and international oil and gas company OMV signed a memorandum of understanding (MoU) to engage in discussions in order to identify possibilities for both sides to invest jointly in exploration, development and production operations of hydrocarbons in Algeria, said Thursday a communiqué of Sonatrach.

“The memorandum of understanding shows the interest of both parties in assessing opportunities for collaboration following the recent promulgation of the new law on hydrocarbons,” said the same source.

Based in Vienna (Austria), OMV is an integrated international oil and gas company, with daily upstream production of 487 kboe / d in 2019, across its five main regions of Central and Eastern Europe, the Middle East and Africa, the North Sea, Russia and Asia Pacific, the statement concluded.

APS

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