OMV Looks to Jointly Participate in Projects with Sonatrach

Friday, July 31, 2020

Austria’s OMV and Algerian state firm Sonatrach signed a Memorandum of Understanding (MoU) to initiate discussions with a view to identifying the possibilities for both parties to jointly invest in exploration, development and production of hydrocarbons in Algeria.

The MoU shows the interest of both parties in assessing opportunities for collaboration following the recent promulgation of the new hydrocarbons law.

Earlier in the week, Sonatrach announced that it had signed an MoU with Cepsa to search for new cooperation opportunities.

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