Petroleum Africa
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Wednesday, August 12, 2020
The Algerian Minister of Energy, Abdelmadjid Attar, met by videoconference with Occidental Petroleum’s Executive VP of Africa, Saamir Elshihabi on Monday to discuss prospects for strengthening the partnership between the Sonatrach group and Oxy in the fields of hydrocarbons.
Mr. Elshihabi also expressed that Oxy is keen to increase its future participation in Algerian projects. Minister Attar confirmed and assured Elshihabi that the Ministry of Energy is ready to support any effort to develop the partnership between Sonatrach and Occidental within the framework of current contracts and especially on new opportunities in all fields of hydrocarbons, especially under the new provisions of Oil Law 19/13, a press release said.
Also, denying the press articles evoking that Occidental intended to sell its Algerian shares acquired recently through the buyout of Anadarko’s holdings in Algeria, Mr. Elshihabi confirmed “Occidental’s desire is to develop its cooperation with Sonatrach in all the fields of the hydrocarbons sector.”
For her part, the president of Occidental, Mrs. Vicki Hollub, affirmed on August 11 from Houston, that her company took “the strategic decision to make ‘Algeria a Core Asset.”
She further specified that Occidental’s teams continue to deepen their understanding of data from Algeria, particularly on additional opportunities in areas in which Occidental currently operates and in expansion areas to maximize the value of assets in view of to strengthen operational capacities in the organization of joint operating with Sonatrach.
“The president of Occidental underlined in particular that Occidental’s relations with the Algerian Government are excellent and allow to create value for Algeria and the shareholders of Occidental,” the Ministry statement concluded.
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