Oil & Gas

Algeria's Sonatrach is actively working to expand bilateral cooperation with Oman in the energy, mining, and hydrocarbon exploration sectors. Recently, a memorandum of understanding was signed between Sonatrach and Oman Energy Services Abraaj. This agreement aims to enhance cooperation in the oil and gas field services sector and manage integrated projects between Algeria and Oman.

Through this MoU, both companies aim to leverage their respective capabilities and expertise in the oil and gas services sector. The agreement was signed by Farhat Onughi, Vice President in charge of Business Development and Marketing at Sonatrach, and Eng. Saif bin Saeed Al-Hamami, CEO of Abraaj Energy Services.

Rachid Hachichi, CEO and Chairman of the Board of Directors of Sonatrach, described the MoU as a bridge that connects the expertise, competencies, and competitive solutions of both companies, aiming to pioneer innovation and excellence in the oil and gas industry. He emphasized that this agreement marks a new chapter in the joint cooperation between Algeria and Oman in the energy sector.

Saif bin Saeed Al-Hamami, CEO of Abraaj Energy Services, expressed that the signing of the MoU reflects the partnership and joint commitment to benefit from capabilities and expertise to enhance joint business opportunities in oilfield services and integrated project management. He noted that this is an important step to enhance cooperation between Algeria and Oman in the oil and gas sectors.

This agreement follows the signing of a Memorandum of Understanding (MoU) on April 24, 2024, between Sonatrach and Oman Energy Services (OEAS). This MoU allows the two companies to explore opportunities for cooperation in drilling, maintenance, well services, and integrated project services. The meeting was attended by officials from both countries, including Oman's ambassador to Algeria, Sonatrach's director general, and officials from the Algerian Ministry of Energy and Mines. Discussions also included cooperation in hydrocarbon exploration, development and exploitation, the petrochemical sector, as well as new and renewable energies and hydrogen development.