UAE expresses wish to boost energy cooperation with Algeria
APS : Monday, 25 April 2016
ALGIERS- United Arab Emirates Minister of Energy Suhail Bin Mohamed Faraj Faris Al Mazrouei said Sunday in Algiers that his country seeks to step up cooperation with Algeria in energy and hydrocarbons.
Following his meeting with Minister of Energy Salah Khebri, The Emirati minister told reporters that his country’s government, which has bought recently the assets of Spanish company Cepsa in Algeria, “will continue its investments in oil and gas in Algeria.”
Al-Mazrouei said he had received recently a delegation from Sonatrach Group to consider the ways and means to establish joint investment projects in oil and gas both in Algeria and the United Arab Emirates.
He expressed wishes to boost energy partnership between the two countries “for at least the next three years,” noting that Cepsa Group will complete next year its thirteenth year of investment in Algeria.
The Emirates’ minister praised business climate in Algeria, stressing that “if the climate was not so favourable, the other UAE companies would not have continued investment in Algeria.”
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