Algeria's state-owned oil and gas company Sonatrach and Italy's Eni agreed to cooperate in the renewables sector through a Memorandum of Understanding, Eni announced on Tuesday.
The Memorandum of Understanding aims at identifying in Sonatrach’s productive sites in Algeria, areas in which to build solar power production units. They will also perform feasibility studies at the selected sites, and develop a business model for projects.
The Chairman and General Director of Sonatrach Abdelmoumen Ould Kaddour said that Sonatrach wants to also strengthen its partnership with Eni in the upstream, petrochemicals, R&D and marketing sectors.
'We are open to all collaboration proposals,' he said.
Eni has been present in Algeria since 1981 and is credited as the first foreign partner on 38 mining permits.
'Equity production in the country [Algeria] yields approximately 100,000 barrels of oil per day,' Eni said.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr