2024-11-24 20:43:00
ALGIERS- The Chief Executive Officer (CEO) of the Sonatrach group, Rachid Hachichi received, Sunday in Algiers, a high-level delegation from the Omani company “OQ Exploration and Production”, with whom he discussed several subjects related to the partnership bilateral, said a press release from the group.
This meeting “follows the conclusions of the cooperation memorandum signed on April 24, 2024 in the Omani capital, Muscat, between Sonatrach and OQ Exploration and Production”. As part of the application of this memorandum, the Omani delegation will hold, from November 24 to 28, a series of technical meetings with representatives of Sonatrach, to examine the areas of partnership, identify areas of investment in the upstream sector and establish a detailed roadmap for the execution of the clauses of the agreed memorandum of understanding, the statement said.
During this visit, the Omani delegation will also be able to “visit Sonatrach’s facilities, and take this opportunity to exchange expertise and deepen cooperation between the two parties.”
The company “OQ Exploration & Production” is one of the subsidiaries of the Omani Group OQ Global Integrated Energy Company, operating in the energy sector and present in 17 countries. Its operations span the entire value chain, including oil and gas exploration and production, refining and petrochemicals, and distribution and marketing of finished products in more than 80 countries around the world, according to the same source.
The Sonatrach group, adds the press release, is constantly working to diversify its international partnerships and strengthen cooperation in the oil and gas sectors, while placing emphasis on the development of projects in alternative energies, as part of its strategic vision aimed at adapting to global transformations in the energy sector.
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How do you see Sonatrach’s partnerships evolving in the future, especially with international companies?
**Interview with Rachid Hachichi, CEO of Sonatrach**
**Interviewer:** Good day, Mr. Hachichi. Thank you for joining us today. We recently learned about your productive meeting with the delegation from OQ Exploration and Production. Can you share some insights about what was discussed during this meeting?
**Rachid Hachichi:** Thank you for having me. Our discussion with the OQ delegation was quite fruitful. We explored various areas for potential collaboration, particularly in the oil and gas sector, where both our companies have significant investments and resources. Strengthening our bilateral partnership is essential as we pursue projects that can bring mutual benefits.
**Interviewer:** That sounds promising! Speaking of investments, Sonatrach has recently announced a $4 billion investment alongside its partners in the Berkine basin. How does this large-scale investment fit into your overall strategic vision?
**Rachid Hachichi:** Absolutely, this investment is part of our strategic plan to boost the production of oil and gas in Algeria. We aim to produce 1 billion barrels of oil equivalent from the Berkine region, which will not only increase our output but also enhance the country’s energy security. Collaborations with esteemed partners like Occidental, TotalEnergies, and ENI are crucial to this endeavor.
**Interviewer:** With such significant projects underway, how do you foresee the impact of these developments on Algeria’s economy?
**Rachid Hachichi:** The impact on the Algerian economy can be substantial. Increased oil production will lead to higher revenues, which can be reinvested into national projects. Moreover, these initiatives can create jobs, foster technological transfer, and ultimately contribute to our goal of economic diversification.
**Interviewer:** Looking ahead, what are the key challenges you anticipate in executing these partnerships and projects?
**Rachid Hachichi:** Like any large-scale project, challenges such as regulatory issues, market fluctuations, and environmental considerations must be navigated carefully. However, I believe that with clear communication and strong collaboration with our partners, we can mitigate these challenges effectively.
**Interviewer:** Thank you, Mr. Hachichi. It’s exciting to hear about the future of Sonatrach and its partnerships. We look forward to seeing how these projects develop.
**Rachid Hachichi:** Thank you for having me. I’m optimistic about the path forward and the role that both Sonatrach and our international partners will play in it.