Algeria’s national oil company, Sonatrach, has entered into a hydrocarbon production-sharing agreement with Chinese energy giant Sinopec for the development of the Hassi Berkane Nord project.
The partnership focuses on research and assessment programs to enhance hydrocarbon resources in the Ouargla and El Meniaa regions. The agreement, backed by a $850 million investment, builds on a Memorandum of Understanding signed in March 2024.
This collaboration is part of broader efforts to bolster oil and gas recovery rates and reinforce Sonatrach and Sinopec’s ongoing exploration initiatives.
Source: Energy Capital and Power
