Energy: Algeria determined to further work with foreign companies

October 15th, 2018

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APS : Sunday, 14 October 2018

ALGIERS – Algeria is today determined to further work with the foreign partners, as all the conditions are set to launch mutually beneficial investments, said Sunday in Algiers Energy Minister Mustapha Guitouni.
During a conference held following the inauguration of the new headquarters of the National Agency of the Promotion of Hydrocarbon Resources (ALNAFT), Guitouni has reaffirmed Algeria’s willingness to cooperate with the foreign partners to conduct more “mutually beneficial” investments in the energy sector.
As such, he emphasized the “great efforts” made by Sonatrach for resolving the numerous disputes with its partners and associates.
These efforts “also constituted a strong sign and helped to restore investors’ confidence in the field of hydrocarbon research and exploitation,” said the minister.
The results recorded by Sonatrach on its own or in partnership reflect “genuine” possibilities in this field.
Concerning the foreign partners of Algeria attending this meeting (Total, Eni, Repsol, …), the minister said the creation of a single desk, in this new headquarters, is intended to allow the two parties consider investment projects to forge “win-win” partnerships.
“We want to associate you with the reflection,” Guitouni said while addressing the partners at the meeting.
“Our foreign partners will thus be welcomed in very good conditions, which give these venues (of ALNAFT) their real role as a platform of meetings, exchanges and collaboration,” he underlined.