Midad Energy North Africa Seeks to Expand Investments in Algeria as Illizi South Project Advances
BY Dr. Hana Saada
ALGIERS- At a meeting held on Sunday in Algiers, Minister of State, Minister of Hydrocarbons Mohamed Arkab received the Chief Executive Officer of the Saudi company Midad Energy North Africa, Sheikh Abdulelah Bin Mohammed Bin Abdullah Al-Aiban, for discussions focused on strengthening cooperation between Sonatrach and the Saudi energy firm, particularly following the signing of the contract related to the “Illizi South” contractual perimeter.
According to a statement from the ministry, the talks, held in the presence of officials from both sides, reviewed the strategic importance of the Illizi South project in the exploration and production of hydrocarbons in Algeria, highlighting it as a reflection of the positive momentum in the bilateral partnership.
The discussions also focused on preparations for the entry into force of the contract covering the Illizi South perimeter, located in the Illizi Basin. Both parties examined technical and regulatory aspects linked to the work programme under the contractual framework, stressing the importance of adhering to deadlines and standards in the execution of major energy projects.
The meeting further reviewed the project’s potential to enhance investment across the hydrocarbons value chain, particularly in exploration, development, and production activities. Officials underlined its expected contribution to strengthening national production capacity, promoting local content, developing skills, and facilitating technology transfer.
Both sides also explored prospects for expanding cooperation and identifying new partnership opportunities within the hydrocarbons sector, with the aim of reinforcing the strategic partnership between Sonatrach and Midad Energy and supporting high-value-added energy projects.
Arkab reaffirmed that this cooperation aligns with Algeria’s broader strategy to develop balanced international economic partnerships in support of the national hydrocarbons sector and wider development objectives.
For his part, Sheikh Al-Aiban expressed Midad Energy North Africa’s interest in further expanding its investments in Algeria, praising the country’s investment climate and the significant opportunities offered by the hydrocarbons sector. He also reiterated the company’s commitment to working closely with Sonatrach and accelerating project implementation in line with shared interests.
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