Sonatrach in talks with three foreign partners on petrochemical projects

March 14th, 2018

APS : Tuesday, 13 March 2018

ALGIERS- National oil group Sonatrach is in talks with three foreign partners for the execution of petrochemical projects, the group’s chief executive officer, Abdelmoumene Ould Kaddour, told APS on Tuesday. 
“Sonatrach is negotiating with French Total, Italian ENI and a Turkish partner, and an agreement is expected to be reached by the end of the year,” Ould Kaddour said during a signing ceremony for an agreement on a transfer, to Sonatrach, of Italian ABB’s shares (50%) in the Algerian firm for the execution of industrial projects “SARPI.” 
Sonatrach had concluded, in January 2017, a memorandum of understanding (MoU) with the Italian Versalis (subsidiary of Italian group Italian ENI) about studies relating to petrochemical projects. 
The MoU with Versalis is about feasibility studies for the building of petrochemical complexes in Algeria and the strengthening of cooperation between the two companies. 
In April 2017, Sonatrach and Total had signed an agreement to extend cooperation between the two sides in the petrochemical industry.