Sonatrach signs a MoU Sinopec

The purpose of the MoU is to define the framework for cooperation between the parties

SONATRACH and its Chinese partner SINOPEC signed a Memorandum of Understanding (MoU), reflecting the parties' desire to consolidate their existing relations and extend their cooperation, through new partnership opportunities in the field of the exploration and exploitation of hydrocarbons.

The purpose of the MoU is to define the framework for cooperation between the parties with a view to concluding a hydrocarbon contract on the Hassi Berkane Nord exploration perimeter, under the aegis of Law No. 19-13 governing the hydrocarbon activities.

The SINOPEC company has been present in Algeria since 2002 and operates the Zarzaitine deposit with SONATRACH, within the framework of an association contract aimed at the recovery and valorization of hydrocarbons from this deposit.