Hydrocarbon Sector Sees Sonatrach, Anton MoU for Technology, Output

Sonatrach and China's Anton Oilfield Services Group have formalized a Memorandum of Understanding (MoU) in Beijing, China, on Saturday. The agreement was signed with the objective of identifying cooperation opportunities within Algeria's vital hydrocarbon sector and its associated services. The signing ceremony took place during a high-level delegation visit to China led by Sonatrach's Chief Executive Officer, Nour Eddine Daoudi.

The protocol specifically outlines plans to evaluate possibilities for the development of non-conventional hydrocarbon resources and marginal fields, in addition to exploring advanced solutions for enhanced oil recovery (EOR). A significant component of this agreement involves examining the potential for local manufacturing of crucial completion tools and equipment tailored for natural gas operations, indicating a commitment to domestic industrial growth.

Further enhancing this strategic partnership, the MoU is designed to foster the exchange of technical expertise, facilitate technology transfer, and implement robust capacity-building initiatives across the oil and gas sector, with particular emphasis on non-conventional resources. Anton Oilfield Services Group, a Chinese company listed on the Hong Kong Stock Exchange, specializes in technological services for oilfields and is recognized for its high technology, competitiveness, and sustained rapid development.