Signature of MoU between Sonatrach and Lukoil

Source: www.gulfoilandgas.com 5/4/2020, Location: Africa

SONATRACH and the Russian company LUKOIL proceeded to the signing of a memorandum of understanding (MoU) to initiate discussions in order to identify the possibilities for the two parties to invest jointly in operations exploration and production of hydrocarbons in Algeria, following the promulgation of the new Algerian Hydrocarbons Law.

The memorandum of understanding also covers the examination of international exploration and production opportunities.

LUKOIL is one of the largest vertically integrated oil and gas companies in the world, accounting for more than 2% of global oil production and approximately 1% of proven hydrocarbon reserves.


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