Sonatrach signed a memorandum of understanding (MoU) with DEA Deutsche Erdoel AG to provide a framework for DEA to operate in Algeria, World Oil reports.
DEA is exploring upstream opportunities in the country, according to World Oil.
“DEA has been active in Algeria for more than 15 years. We welcome the opportunity to cooperate with Sonatrach in identifying oil and gas projects of common interest in Algeria and we hope that this will result in significant value creation potential for both parties,” the General Manager of DEA in Algeria, Sameh Sabry, said, according to Europétrole.
Sonatrach is the state-owned oil and gas company of Algeria. DEA is an oil and gas company based in Germany.