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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