Sonatrach signs $490 million deal with Sinopec to develop field in Algeria
Monday, 06 June 2022
Algeria’s national energy company Sonatrach has signed a 25-year contract with the Chinese major Sinopec to jointly develop and share production for the Zarzaitine block in Algeria’s eastern Illizi basin. The deal is worth $490 million and comes in the wake of Sonatrach extending ties with Italy and Spain to boost pipeline gas supplies to the EU.
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