ExxonMobil, SONATRACH partner to develop Algeria’s oil and gas resources

(WO) – Algeria’s SONATRACH and ExxonMobil signed a Memorandum of Understanding to study existing opportunities to develop oil and gas resources in the Ahnet basin and the Gourara basin, with an emphasis on operational excellence, technological innovation , respect for the environment and best sustainability practices.

The Chairman and CEO of SONATRACH said, “We are delighted with this step taken in the collaboration with ExxonMobil, a pioneering company in the energy sector. The signing of this memorandum of understanding opens up new prospects for the development of the Algerian mining sector and demonstrates the mutual desire of the two companies to achieve responsible and sustainable exploitation of our country's natural resources.

“This agreement is an important first step in the creation of a partnership which will contribute to further unlocking the development potential of Algeria's resources,” declared in turn Mr. John ARDILL, Vice-President Exploration & New Opportunities of Algeria. ExxonMobil. “Algeria’s long history in hydrocarbon development, along with ExxonMobil’s cutting-edge capabilities and proven experience, position us for success.