Opinion
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Algeria
Algeria nears Chevron, ExxonMobil deals as country aims to boost oil and gas production, exploration
1 min read
Algeria is close to signing a deal with U.S. oil and gas giant Chevron Corp. as the OPEC member aims to increase natural gas exploration and production and remain a key supplier of the fuel to Europe.
State-run energy firm Sonatrach will ink the agreement to develop a large oil and gas field “within the next few days,” Energy Minister Mohamed Arkab said in an interview with state TV last week.
Before year-end, the country will also sign contracts with ExxonMobil Corp. to develop “very important fields that will make a very significant addition to the production of natural gas in Algeria,” he added.
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