Algeria Signs Energy Deal with Sweden

Algeria's "Sonatrach" company announced today the signing of a protocol agreement with a Swedish company to explore energy resources and develop projects in this field in Algeria. A statement published by the Algerian company indicated that the protocol was signed with "Tethys Oil AB" to express the parties' intention to establish a partnership in the exploration, development, and exploitation of hydrocarbons in the "Hadjira II" area (Ouargla province in southern Algeria) and "Hiyad II." The purpose of the protocol agreement is to define a framework for cooperation between the parties in preparation for concluding contracts for hydrocarbons in the specified areas of interest, in accordance with Law No. 19-13, which regulates hydrocarbon activities. The signing ceremony took place at the headquarters of the "Sonatrach" General Directorate in the Algerian capital, attended by Sonatrach CEO Rachid Hachichi, the CEO of the Swedish company Magnus Nordén, and the head of the National Agency for the Valorization of Hydrocarbon Resources "Petroleum" Murad Belgham.