Energy: Sonatrach, Chevron sign Memorandum of understanding

March 17th, 2020

APS ; TUESDAY 17 MARCH 2020

ALGIERS- The national hydrocarbon company (Sonatrach) and the American oil company Chevron have signed a memorandum of understanding to strengthen partnership opportunities in the hydrocarbon industry, said Sonatrach Monday in a statement.
The memorandum, concluded on 12 March, concerns “the opportunities for exploration, development and exploitation of hydrocarbons in Algeria, particularly following the promulgation of the new Algerian law on hydrocarbons,” the same source said.
“This memorandum of understanding confirms the willingness of both parties to develop their partnership in the hydrocarbons industry in Algeria, which should allow a mastery and transfer of technology and know-how in various segments of the oil and gas industry,” the source concluded.