The announcement was made in February 2023 by the Wall Street Journal, before and after that the American oil giants and the Algerian side discreetly continued the work to seal partnerships, especially around the immense reserves of the Sahara. The matter is very advanced with the visit to Algiers of an imposing delegation of American businessmen, 26 in total including representatives of the two oil majors Oxy and Chevron. They arrived yesterday, Sunday, January 21, and we can reasonably expect partnerships, even very juicy contracts, in the long term…
Note that on January 9, the Minister of Energy and Mines, Mohamed Arkab, received a delegation from the world number 1 ExxonMobil. Remember that in February 2023, American officials were in Algiers to clear up the same issues. “ Oxy and Chevron, among the largest American oil companies, have made very good progress in discussions with Sonatrach and should sign contracts soon,” Smail Chikhoune, president of the Algerian-American Business Council, said on Channel III.
The Americans, like the Europeans, are attracted by the new provisions of the Laws on investment and hydrocarbons. These documents are “ good points regarding the attractiveness of the business climate in Algeria,” added Chikhoune. President Abdelmadjid Tebboune wanted these texts to offer sufficiently attractive incentives to increase the flow of foreign capital; if the American giants sign with Algiers we will go beyond all expectations.
The American delegation will stay three days in Algeria to closely study the extent of the possibilities offered by the country, and not only in the field of energy, there are also buildings and public works (BTP), so far the preserve of the Chinese. Meetings with several Algerian institutions and economic operators are scheduled: the Ministry of Industry, the Algerian Agency for the Promotion of Investment (AAPI), the Algerian Economic Renewal Council (CREA), Madar Holding, and the first-rank national companies, Sonatrach and Sonelgaz.
Commenting on the Algerian Minister of Energy’s appeal to American companies to invest in the mining sector, Smail Chikhoune clarified that Algeria still poses two conditions for the partnership to be win-win: the transfer of knowledge -do, through training, the local production of certain parts intended for drilling and other services in exploration.
Algiers had demanded the same thing from China to strengthen local industry and expertise. So we are dealing with a new doctrine to boost the national economy and move away from dependence on hydrocarbon revenues. It started to work with the mastery of seawater desalination techniques to the point that Algeria now offers its solutions abroad, why not other niches? You don’t change a winning recipe…
