The Sonatrach group and its Italian partner Eni signed a Memorandum of Understanding this Sunday, May 19, at the headquarters in Algiers, according to a press release from the oil and gas group.
This Memorandum of Understanding reflects “the desire of the parties to consolidate their existing partnerships and extend their cooperation, by agreeing to set up a new program of research and exploitation work aimed at exploiting the hydrocarbon potential of the area. interest covering the contractual areas of Zemoul El Kbar, Rourde El Louh – Sif Fatima, and Rhourde Messaoud Nord,” specifies the same source.
The document, signed in the presence of the CEO of the Sonatrach group, Rachid Hachichi, “aims to define the framework of cooperation between the two parties to conclude one or more Hydrocarbon contract(s) in this area of interest, under the aegis of Law No. 19-13, govern hydrocarbon activities,” we explain in the press release.
Sonatrach and its partner Eni operate the contractual areas subject to the signed Protocol of Agreement, within the framework of the association contracts signed under the aegis of Law No. 86-14 and 05-07 as amended and supplemented, governing hydrocarbon activities. , recalls the same source.
