The Algerian oil and gas company Sonatrach stated – in a statement on Tuesday, April 16 – that it had signed an agreement with the Saudi Tethys Oil Company in the field of exploration, development and exploitation of hydrocarbons in the Al-Hujaira and Al-Hiyad regions.

The Algerian company Sonatrach and the French company Total Energy signed an agreement of understanding aimed at embodying the desire of both parties to strengthen their partnership, in addition to expanding areas of cooperation. The memorandum aims to reach an understanding on the implementation of a work program aimed at evaluating and developing energy resources in the northeast region, relying on existing processing facilities in the region.

The memorandum aims to establish a framework for cooperation between the two parties for the purpose of concluding a hydrocarbon contract in the area of specific interest, and this comes in light of Law No. 13-19 regulating hydrocarbon activities, according to the official Algerian News Agency.