American oil giant ExxonMobil is set to expand its global footprint by exploring hydrocarbon reserves in Algeria. According to the Arabic-language daily Elkhabar, an ExxonMobil delegation recently met with the Minister of Energy and Mines, Mohammed Arkab, in Algiers to discuss a potential agreement between the two countries in the field of hydrocarbons.
Hydrocarbons: the American ExxonMobil is preparing to enter Algeria
The Energy Ministry released a statement revealing that the discussions focused on ExxonMobil’s planned investments in Algeria, emphasizing current consultations regarding oil exploration in certain areas of the country.
Both parties expressed their commitment to continuing these discussions to reach an agreement in the coming days. The planned deal could pave the way for major exploration activities and the development of oil fields in Algeria by ExxonMobil.
The hydrocarbon resources of Algeria, a major player in the global oil and gas scene, are attracting interest from international companies seeking to strengthen their activities in the region. This initiative is part of Algeria’s ongoing efforts to attract foreign investment in the energy sector.
Gas and Oil: SONATRACH multiplies partnerships with foreign players
While specific details of the agreement still need to be disclosed, it is clear that ExxonMobil and the Algerian government are actively working to finalize the terms of this potential collaboration. The national oil group SONATRACH will conclude the second part of the agreement, with joint ventures on the horizon.
