mardi 15 juin 2021 00:29:44

Sonatrach signs a memorandum of understanding with Norwegian Equinor

Sonatrach and the Norwegian group Equinor have proceeded Monday in Algiers to the signing of a memorandum of understanding to examine opportunities for cooperation in the areas of exploration and production of hydrocarbons in Algeria and internationally.

PUBLISHED : 17-05-2021 | 0:00
D.R

Sonatrach and the Norwegian group Equinor have proceeded Monday in Algiers to the signing of a memorandum of understanding to examine opportunities for cooperation in the areas of exploration and production of hydrocarbons in Algeria and internationally.

The agreement also covers cooperation in environmental protection, new technologies, and operational performance, related to hydrocarbons.

    Sonatrach aims, through this memorandum of understanding, to extend its existing partnership with Equinor (ex-Statoil) beyond the term of current contracts that end in 2027, said CEO of Sonatrach, Tewfik Hakkar, at the signing ceremony.

Recalling that Equinor represents "a historical partner" for Sonatrach with more than 15 years of presence in Algeria, Mr. Hakkar said that this agreement shows the interest of the Norwegian partner for the Algerian mining sector "which includes significant quantities of gas and oil.

"On the other hand, we have exchanged on investment with our partner on new projects abroad in countries with new investment opportunities in gas and oil, especially in Africa, "he said.          

In addition, the two partners have agreed to cooperate on post-hydro projects in Algeria, namely, renewable energy projects including solar energy and hydrogen.

"It is also to exchange expertise in the sector of environmental preservation. We are working to reduce the impacts of the hydrocarbon industry on the environment especially with regard to CO2 emissions and the carbon footprint of this industry, "said the CEO of Sonatrach.

For his part, the Deputy CEO of Equinor, in charge of international oil & gas activities, Alasdair Darley Shepheard Cook, said that this memorandum should allow studying how the two energy companies can raise their partnership while reducing greenhouse gas emissions.

He stressed "the great experience of Sonatrach and Equinor in the production of hydrocarbons with low CO2 emissions around the world.

    "Today we will work more closely in In Salah and In Amenas to continue to create value and reduce greenhouse gas emissions," he added.

The signing of this protocol also aims to strengthen the partnership between Sonatrach and Equinor through the search for new opportunities for cooperation in the upstream oil, industrial safety management, implementation of technologies to improve the recovery of hydrocarbons and the development of a model for conducting oil operations performance.

As a reminder, the Norwegian group Equinor is present in Algeria since 2004. It is a partner with Sonatrach and BP (British Petrolium) on the fields of In Salah and In Amenas. It is also a partner of Sonatrach on the exploitation perimeter of Timissit.

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