Petroleum Africa
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Thursday, October 31, 2024
Sonatrach and its partner Occidental Petroleum Corp (Oxy) have signed a Memorandum of Understanding, reflecting the intention of both parties to consolidate their existing relations and extend their cooperation through new partnership opportunities in the field of exploration and exploitation of hydrocarbons.
The purpose of this Memorandum of Understanding is to define the framework for cooperation between the stakeholders with a view to concluding a Hydrocarbon Contract on the Berkine Center area of interest, under the aegis of Law No. 19-13 governing hydrocarbon activities.
Sonatrach and Oxy, with two other partners, operate the contractual perimeter of Berkine, within the framework of a Hydrocarbon Contract signed on July 19, 2022.
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