Algiers: Algerian energy and hydrocarbons company Sonatrach and the Chinese company Sinopec have signed a memorandum of understanding aimed at exploring energy resources and establishing a framework for cooperation.
According to Kuwait News Agency, Sonatrach stated that the agreement will enable both parties to discuss a proposed work program focused on evaluating and developing hydrocarbon resources in the Gourara and Eastern Berkine regions, located in Southern Algiers.
This agreement is the culmination of a long process of cooperation and joint work. Sonatrach Chairman Rachid Hachichi noted that the agreement is expected to open promising prospects for both parties to explore hydrocarbon resources in the two regions.
Sinopec has been active in Algeria since 2002 under a partnership agreement with Sonatrach. This collaboration is aimed at recovering and enhancing the value of the available hydrocarbons in the field, further strengthening the ties between the two companies.