Algeria’s Sonatrach Inks 800-Million-USD Contract With Two Foreign Firms

ALGIERS, Jun 16 (NNN-APS) – Algeria’s state-owned oil company, Sonatrach, signed yesterday, a contract worth 800 million U.S. dollars, with Indonesian and Spanish energy companies, to jointly explore and produce hydrocarbons.

Indonesia’s Pertamina and Spain’s Repsol, already partners with Sonatrach since Sept, 2022, will join the exploitation of the Menzel Lejmat area (Block 405a) in south-eastern Algeria, which is expected to facilitate the recovery of nearly 150 million barrels of oil equivalent, said a statement issued by Sonatrach.

Pertamina and Repsol are also partners of Sonatrach in the exploration of the Oulad N’sir area (Blocks 405 & 215), the statement said.

– NNN-APS