(MENAFN- Kuwait News Agency (KUNA)) ALGIERS, July 20 (KUNA) -- Algerian energy and hydrocarbons company (Sonatrach) and the Chinese company (Sinopec) signed a memorandum of understanding on Sunday aimed at exploring energy resources and establishing a framework for cooperation.
Sonatrach said in a statement that the agreement will allow both parties to discuss the proposed work program with the aim of evaluating and developing hydrocarbon resources in the Gourara and Eastern Berkine Southern Algiers.
This agreement is the result of a long process of cooperation and joint work, and is expected to open promising prospects for both parties to explore hydrocarbon resources in the two regions, said Sontrach Chairman Rachid Hachichi.
Sinopec has been operating in Algeria since 2002 under a partnership agreement with Sonatrach aimed at recovering and enhancing the value of the available hydrocarbons in the field. (end)
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