Petrojet has inked an MoU with Sonatrach to explore the feasibility of establishing a joint venture (JV).

This comes within the framework of an agreement signed between the Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) and Algerian Ministry of Energy and Mining in 2022, in addition to the petroleum sector’s strategy to support the international partnerships. 

This memorandum will set the framework for both Petrojet and Sonatrach to study the opportunities and feasibility of establishing a joint venture in Algeria for the design and manufacturing of static equipment according to the American Society of Mechanical Engineers (ASME) standards, as well as providing related services.

The agreement was signed by Waleed Lotfy, the Chairman and Managing Director of Petrojet and Rachid Hachichi, the CEO of Sonatrach.