Upstream plans in Algeria are slowly but surely gathering pace. State giant Sonatrach signed a $490mn production sharing contract with Chinese state firm Sinopec on 28 May, the second such deal under the country’s 2019 oil law which was rolled out to kickstart foreign investment.
The agreement extends Sinopec’s presence at the aging Zarzaitine field in the Ilizi Basin where it is already involved in an enhanced oil recovery project under a 2003 contract (MEES, 7 October 2002). (CONTINUED - 978 WORDS)
