Algeria and China sign an agreement for the joint exploitation of hydrocarbons in Algerian territory

MADRID, 29 May. (EUROPA PRESS) -

The Algerian hydrocarbon company, Sonatrach, and the Chinese Sinopec Oil

In the presence of the Algerian Minister of Energy, Mohamed Arkab, the Vice President of Sonatrach, Mohamed Slimani, and the General Manager of SOOGL, Wu Xiuli, have signed a contract that is expected to facilitate the production of almost 95 million barrels of crude oil in the industrial village of Zarzaitine, as reported by the Algerian news agency APS.

In addition, this program includes the renovation of several natural gas extraction units, as well as the creation of up to 12 new wells, which would deepen the Algerian-Chinese collaboration in the production of hydrocarbons, according to the aforementioned agency.

"The renewal of hydrocarbon reserves requires further intensification of research and exploration efforts, through the use of international partnerships, including Chinese ones, to allow us to benefit from modern technology and techniques used in this field, sharing risks and costs. ", assured the Algerian Minister of Energy.

Arkab has also highlighted that his Ministry is working in coordination with the Sonatrach group and the National Agency for the Development of Hydrocarbon Resources (Alnaft) to accelerate the launch of extraction and production activities in the discovered deposits.

This announcement comes at a time when Algeria is intensifying its relations with Italy to increase its supply of natural gas by 50 percent, and after the North African country called its ambassador in Madrid for consultations as a sign of rejection of the Spanish support for the Moroccan autonomy plan for Western Sahara.

In fact, the special envoy of the Algerian Government for Western Sahara and the Maghreb countries, Amar Belani, pointed out in a recent interview to the official APS agency that Italy is a friendly country that has always been present in the most difficult circumstances" and "with a constant adherence to principled positions on regional issues of common interest", as opposed to the "narrow and selfish calculations" of Spain.

Sonatrach and the Italian ENI have also strengthened their collaboration in recent months with joint explorations that would result in a greater flow to Italy. "Every time production increases, we can supply it to Italy, which will send it to all the rest of Europe," explained the president of Algeria, Abdelmayid Tebune, in statements collected by the Italian agency AdnKronos.

China, for its part, has also been in favor of a solution for Western Sahara in accordance with UN resolutions, as defended by Algeria.