Sonatrach and Occidental Petroleum Strengthen Ties with New Oil and Gas Agreement

The Algerian oil company Sonatrach and its U.S.-based partner Occidental Petroleum Corporation (Oxy) signed a memorandum of understanding on Tuesday in Oran, signaling their commitment to strengthen existing relations and expand collaboration through new partnership opportunities in hydrocarbon exploration and production, according to a statement from Sonatrach.

The agreement, signed on the sidelines of the 12th edition of the North Africa Petroleum Exhibition and Conference (NAPEC), aims to establish a framework for cooperation between the parties involved to finalize a hydrocarbon contract for the Berkine Center area, under the provisions of Law 19-13 governing hydrocarbon activities.

Sonatrach and Oxy, along with two other partners, are currently engaged in operations within the contractual area of Berkine, as part of a hydrocarbon contract that was signed on July 19, 2022.