Sonatrach, Total sign partnership agreement
APS - 11 April 2017
ALGIERS- National hydrocarbon company Sonatrach and French company Total signed Monday, in Algiers, a “global agreement aimed at strengthening the partnership existing between the two companies,” said Sonatrach in a communiqué.
The agreement was signed by the CEO of Sonatrach Abdelmoumen Ould Kaddour and CEO of Total Patrick Pouyanne.
This agreement will allow Sonatrach and Total to “grow their partnership through the implementation of new projects in the upstream oil sector, notably the new contractual framework for the project Timimoun, the continuation of the joint exploitation of the field of Tin Fouyé Tabankort, as part of a new agreement, the development of a new project as well as the friendly settlement of disagreements between the two companies,” said the source.
The agreement is also meant to “expand cooperation in the other activities, notably the exploration, petrochemistry and solar energy,” said Sonatrach.
This agreement “confirms the willingness of Sonatrach and Total to work together for the development and strengthening of their historic partnership,” added the communiqué.