Wintershall Dea Sets Sights on More Algerian Gas
Algerian state producer Sonatrach and German Wintershall Dea have signed a memorandum of understanding that could lead to further co-operation upstream in Algeria and internationally, they said August 17.
Wintershall Dea joins a number of companies that have this summer pledged to invest in Africa's biggest gas resources holder, following US Occidental Petroleum's promise, reported by Sonatrach, to make the country a core asset earlier this month.
Wintershall Dea said: “Wintershall Dea is well established in Algeria through our participation in the Reggane Nord project. In 2020 we are evaluating a potential increase of activities in the country, and this MOU is an important step forward.”
Wintershall Dea has been present in Algeria since 2002 and has a 19.5% stake in Reggane North, which has been producing since 2017. The other partners are Sonatrach (40%), Spain's Repsol (29.25%) and French Edison (11.25%).
The country has had difficulty attracting investors for a number of reasons, including the fiscal terms and the paralysis gripping government.