Algeria: Sonatrach, BP, Statoil sign MoU

Sonatrach signed a memorandum of understanding with BP and Statoil on 26 February on opportunities for cooperation in upstream oil. “The signing of this protocol will also enable Sonatrach, BP and Statoil to consolidate their previous partnership through the search for new cooperation opportunities,” a Sonatrach statement said. Sonatrach is keen to boost investment from both new and existing international oil company partners to ensure the state benefits from the industry upturn.