Economics Affairs

Relations between Sonatrach, its partners develop in "normal way"

APS - 25 March 2019

ALGIERS- Relations between Sonatrach and its partners develop in a "normal way," the national oil and gas company's Vice President of Sales and Marketing Ahmed El-Hachemi Mazighi said Monday in an interview with APS.

In reply to a question on the news published recently by the media alleging that the signing of agreements was suspended by Sonatrach's partners, Mazighi said "the discussions we are conducting with our partners, be they Exxonmobil or others, are bound by confidentiality agreements.

"It is therefore impossible to brief reporters on the state of progress of the discussions, which, however, does not prevent us from making statements on any suspension or shift."

Sonatrach's official said "my answer is very simple: what interest does a company like Exxonmobil have in suspending negotiations with Sonatrach? Enabling its competitors to be ahead of it?! It does not make sense!"

"Algeria still has the world's third-largest shale reserves. Do you think that it is in the interest of a company of the size of Exxonmobil to suspend discussions? Personally, I don't think so."

"Our relations develop in a normal way," Mazighi said, disclosing that he had received, as vice president of Sales and Marketing of Sonatrach, an amendment from Exxonmobil, last Monday (18 March 2019), relating to marketing of oil and gas." "It is proof that those people continue to sign agreements with us."