ALGIERS – Algerian Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, received on Sunday the CEO of Midad Energy – North Africa, Sheikh Abdulelah Bin Mohammed Bin Abdullah Al-Aiban, the Algerian Ministry of Energy said in a statement.
The meeting was attended by the CEO of Sonatrach, Rachid Hachichi, the president of the National Agency for the Development of Hydrocarbon Resources (ALNAFT), Samir Bekhti, and a number of senior officials from the ministry.
This meeting was held in the context of strengthening Algerian-Saudi energy cooperation, and as a follow-up to the signing of a protocol agreement between Sonatrach and “Midad Energy” Company, signed on March 4, 2024, the statement said, adding that the agreement aims to assess and develop gas reservoirs in southern Illizi, according to the fast-track system, which is an effective mechanism to accelerate the pace of implementing hydrocarbon exploration and exploitation projects.
In this regard, both parties discussed prospects for activating this cooperation and ways to translate the protocol agreement into an actual partnership contract in the near future, with a focus on developing gas projects in the specified area. They also explored other opportunities for collaboration across various stages of the oil and gas value chain, including technology transfer, capacity development, and exchange of expertise, the source said.
On this occasion, Minister Arkab affirmed that this cooperation reflects the shared desire to establish a strong economic partnership based on mutual interests and enhanced trust between the two sides, praising Midad Energy’s advanced experience in implementing strategic projects with an international dimension.
For his part, Sheikh Abdulelah Bin Mohammed Bin Abdullah Al-Aiban expressed his appreciation for the trust his company enjoys among Algerian partners, emphasizing that the favorable investment climate provided by Algeria, along with ongoing reforms in the hydrocarbon sector, make it a promising partner for long-term investment in the energy field.
