Algeria and Saudi Arabia Deepen Energy Ties Through Medad North Africa Collaboration

By Nor Eleslam

Algiers – On Sunday, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, received Sheikh Abdulilah bin Mohammed Al-Aiban, CEO of Saudi-based Medad Energy-North Africa. The meeting, held at the ministry headquarters, aimed to strengthen bilateral energy cooperation and follow up on the protocol signed on March 4, 2024, between Sonatrach and Medad Energy for the rapid development of gas fields in Illizi, southern Algeria. The discussions focused on translating the agreement into a concrete partnership contract, exploring opportunities across the oil and gas value chain, and advancing technology transfer and skills development. Present at the meeting were Sonatrach CEO Rachid Hachichi, ALNAFT President Samir Bekhti, and other officials. Minister Arkab praised Medad’s international experience and commitment to strategic projects. Sheikh Al-Aiban highlighted Algeria’s attractive investment climate and ongoing sector reforms, describing the country as a promising long-term energy partner. Medad Energy, headquartered in Khobar and part of Al Fozan Holding Group, is a leading Saudi operator in energy, water, and mining sectors, with a notable track record including its 1994 involvement in the Caspian Sea’s “Contract of the Century.”