• Natural Gas News

    Equinor, Sonatrach ink upstream MoU

Summary

The two state controlled companies are looking at opportunities inside and outside Algeria.

by: William Powell

Posted in:

Complimentary, NGW News Alert, Natural Gas & LNG News, Europe, Corporate, Exploration & Production, News By Country, Algeria

Equinor, Sonatrach ink upstream MoU

Norwegian Equinor and Algerian state Sonatrach have signed a memorandum of understanding (MoU) to examine co-operation within oil and gas exploration and production in Algeria and internationally. 

The May 17 MoU also includes possible co-operation within greenhouse gas emissions and carbon management, industrial safety management, implementation of technology to increase hydrocarbon recovery and development of a model for driving high-performance oil operations. 

State controlled Equinor entered Algeria in a deal with UK major BP in 2003. It bought a 50% stake in the gas-condensate field In Amenas and 49% in the dry gas field In Salah. Current assets include In Salah and In Amenas, as well as a partnership on exploration in the Timissit licence.