Equinor, Sonatrach ink upstream MoU
Norwegian Equinor and Algerian state Sonatrach have signed a memorandum of understanding (MoU) to examine co-operation within oil and gas exploration and production in Algeria and internationally.
The May 17 MoU also includes possible co-operation within greenhouse gas emissions and carbon management, industrial safety management, implementation of technology to increase hydrocarbon recovery and development of a model for driving high-performance oil operations.
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State controlled Equinor entered Algeria in a deal with UK major BP in 2003. It bought a 50% stake in the gas-condensate field In Amenas and 49% in the dry gas field In Salah. Current assets include In Salah and In Amenas, as well as a partnership on exploration in the Timissit licence.