Algiers, 30th July 2024 – Sonatrach signed today at its Headquarters, a Memorandum of understanding and a confidentiality Agreement with the Canadian company Stream-Flo Industries Ltd.
The signing ceremony took place in the presence of Mr Rachid Hachichi, CEO of Sonatrach and Mr Mark McNeill, CEO of Stream Flo Industries LTD.
This Memorandum of Agreement will allow the two companies to work out the framework dealing with the assessment of the opportunity to set up a joint company specialised in the manufacture of components of wellheads, production heads and Oil & Gas equipment accessories.
Stream-Flo Industries Ltd is a worldwide recognized company owning technical and technological resources as well as expertise in the manufacturing, maintenance and marketing of wellheads components, production heads, their accessories and the relevant services.
The signing of this Memorandum of understanding is part of Sonatrach strategy to reinforce control of its processes relating to its development plan, notably through the establishment of high added-value partnerships targeting the local manufacturing of high tech-oil equipment and provision of related services, as well as specialized training, knowledge transfer, knowhow and technological transfer.
