The MOU agrees to explore cooperation possibilities and has a term of two years, active as of 1st July 2020
Wintershall Dea has signed a Memorandum of Understanding with Sonatrach, aimed at strengthening cooperation in Algeria. The MOU agrees to explore cooperation possibilities and has a term of two years, active as of 1st July 2020. It will provide a framework for Wintershall Dea to identify and potentially access additional business opportunities in the country, which is Africa’s largest gas producer.
The signing builds on the two companies’ existing relationship. Wintershall Dea has been active in Algeria since 2002, and holds a 19.5% share in the Reggane Nord concession. The project involves six gas fields extended over a huge area of almost 1,800 square kilometres in the South-Western Sahara Desert, one of the hottest areas on earth. It is operated by Groupement Reggane Nord (GRN), a consortium comprised of Wintershall Dea, Sonatrach (40%), Repsol (29.25%) and Edison (11.25%). Following an extensive development programme, GRN celebrated first gas in 2017.
Dawn Summers, Chief Operating Officer and Member of the Board responsible for the Middle East and North Africa said: “Wintershall Dea is well established in Algeria through our participation in the Reggane Nord project. In 2020 we are evaluating a potential increase of activities in the country, and this MOU is an important step forward.”
Source: Company Press Release