Algeria’s state energy firm Sonatrach has named Amine Mazouzi as its new chief executive to replace interim chief Said Sahnoun, who had been appointed less than a year ago, according to two industry sources on Sunday.

An official ceremony to appoint Mazouzi is expected later on Sunday, the two industry sources said. Mazouzi, a younger generation manager in Sonatrach’s engineering and development production department, will take over the huge state operation as the North African country seeks to draw more foreign oil investment and offset the fall in world crude prices.

Source: Zawya