Algiers, Algeria – Sonatrach, Algeria’s national oil company, has signed a partnership and cooperation agreement with Petrovietnam, the Vietnamese state-owned oil and gas corporation. The agreement, finalized in Algiers on Wednesday, aims to unlock new opportunities for collaboration in hydrocarbon exploration and production.
The agreement was signed by Sonatrach’s CEO, Noureddine Daoudi, and his counterpart from Petrovietnam, Le Ngoc Son. The signing ceremony was held under the auspices of Algerian Prime Minister Sifi Ghrib and Vietnamese Prime Minister Pham Minh Chinh.
The event took place on the sidelines of the Algerian-Vietnamese Forum, which brought together approximately two hundred business operators from both countries. The forum served as a platform to strengthen economic ties and explore potential joint ventures.
Beyond the Sonatrach-Petrovietnam agreement, the forum also witnessed the signing of a partnership and cooperation agreement between the Algerian company Siakle Food and the Vietnamese Joint Stock Company. This further highlights the growing economic cooperation between Algeria and Vietnam across various sectors.
The partnership between Sonatrach and Petrovietnam is expected to bolster Algeria’s position as a key player in the global energy market, while also providing Petrovietnam with access to new exploration and production opportunities. The agreement underscores the commitment of both nations to fostering strong economic ties and mutually beneficial partnerships.
The Algerian-Vietnamese Forum and the agreements signed demonstrate a concerted effort to diversify and strengthen the economic relationship between the two countries, paving the way for future collaborations and investments.
