Zarubezhneft says in talks on upstream projects in Algeria

MOSCOW, Apr 16 (PRIME) -- Russian oil company Zarubezhneft is in negotiations with Algerian oil and gas company Sonatrach on producing projects, a spokesperson for Zarubezhneft told PRIME on Thursday.

“We are in negotiations…Several projects were offered, we are studying them,” the spokesperson said.

Sonatrach said in a statement that it signed a memorandum of understanding with Zarubezhneft as a start of discussions of possible projects for prospecting, development, and production of hydrocarbons in Algeria. In November 2019, the Algerian government approved a bill on hydrocarbon resources with the goal of simplifying operations of foreign companies in the country.

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