An agreement to boost collaboration in hydrocarbon exploration and production has been signed by Algerian national oil company Sonatrach and Chinese oil and gas conglomerate Sinopec.
The deal sets the stage for Sonatrach and Sinopec to formalize a contract on the Hassi Berkane Nord exploration zone in Algeria.
The potential contract will be regulated by Algeria’s Hydrocarbon Law No. 19-13 – enacted in November 2019.
Sinopec has been present in Algeria since 2022 and operates the Zarzaitine project where the firm is partnering with Sonatrach to enhance the recovery and valorization of deposits in the oil field.
