Saudi Arabia Commends President Tebboune’s Economic Reforms and Welcomes the Strategic Sonatrach–Midad Energy Partnership
✍️ BY: Dr. Hana Saada
Algiers – October 2025 – In a clear expression of confidence in Algeria’s new economic vision, the Ambassador of the Kingdom of Saudi Arabia to Algeria, Dr. Abdullah bin Nasser Al-Bassaïri, hailed the strategic partnership agreement signed between Sonatrach and the Saudi company Midad Energy North Africa, describing it as a “major milestone” in strengthening economic relations between Algiers and Riyadh.
Speaking to the press, Ambassador Al-Bassaïri emphasized that Saudi-Algerian economic relations are witnessing a remarkable upswing, continuing their dynamic expansion throughout 2025 under the guiding spirit of coordination, complementarity, and shared strategic interests between the two nations.
He reaffirmed the mutual determination of the leadership of both countries to consolidate bilateral cooperation across key sectors—particularly energy, mining, and industry—which are considered the pillars of a sustainable and diversified economic partnership.
The Saudi diplomat also paid tribute to the economic reforms initiated by President Abdelmadjid Tebboune, underlining the importance of the new Investment Code as a cornerstone for attracting foreign capital. “This legislation has created an attractive and secure business environment, providing solid guarantees to foreign companies seeking to invest in Algeria,” he noted.
Highlighting the symbolic importance of the recent hydrocarbon partnership, Ambassador Al-Bassaïri declared that the agreement with Midad Energy marks “a promising beginning and a strong foundation for long-term cooperation” between the two nations. He recalled that Midad Energy is the first Saudi company to conclude such a production-sharing contract with Sonatrach, making it an exemplary initiative and a model for future economic collaboration.
The ambassador extended his warm congratulations to both parties and expressed his best wishes for the success of this landmark partnership, stating, “We hope that this achievement will inspire further cooperation and open the door to new joint ventures between the Kingdom of Saudi Arabia and the People’s Democratic Republic of Algeria.”
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