Algeria and Saudi Arabia have reaffirmed their commitment to strengthening bilateral cooperation, particularly in the hydrocarbons and mining sectors. This announcement follows discussions held in Riyadh, underscoring the deepening ties between the two nations.
The discussions took place on the sidelines of the 21st session of the United Nations Industrial Development Organization (UNIDO) General Conference. Algeria’s Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, met with Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz, to explore opportunities for collaboration.
During the meeting, both parties reviewed promising prospects for cooperation in areas such as hydrocarbon exploration and development, the petrochemical industry, and the development of clean hydrogen. They emphasized the importance of fostering industrial and investment partnerships between Algerian and Saudi Arabian entities, notably Sonatrach on the Algerian side and Aramco and ACWA Power, among others, on the Saudi side.
According to a statement from the Algerian Ministry of Hydrocarbons and Mines, the discussions focused on strategic priorities for both countries. These include promoting local content within energy value chains, facilitating knowledge exchange and technology transfer, developing training programs in petroleum industries, and intensifying research and innovation efforts.
Minister Arkab emphasized Algeria’s commitment to implementing genuine energy transition projects aimed at reducing the carbon footprint of the oil and gas industry. Regarding the international oil market, both ministers expressed satisfaction with its current stability, attributing it to ongoing efforts within the OPEC framework and the OPEC+ alliance. They reiterated their countries’ full commitment to adhering to OPEC+ agreements to ensure market stability and called for continued dialogue and coordination among all producers to maintain market balance and secure long-term investments.
This collaboration signifies a strengthened partnership between Algeria and Saudi Arabia in the crucial energy sector.
