Algerian national oil company Sonatrach and upstream oil and gas company Occidental Petroleum Corporation have signed a memorandum of understanding to expand collaboration through new opportunities in hydrocarbon exploration and production.
Signed on October 15, the agreement aims to finalize a hydrocarbon contract for the Berkine Center area, onshore Algeria.
Sonatrach and Occidental Petroleum Corporation operate within the contractual perimeter of the Berkine Center area along with energy supermajors Eni and TotalEnergies, as part of a $4 billion production sharing contract signed in July 2022.
