BY: Dr. Hana Saada
Algiers, Algeria | January 13th, 2025 — On Monday, Algeria’s Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, held a meeting with Abdulilah bin Mohammed bin Abdullah Al-Ibayan, CEO of Saudi Arabia’s Al-Madad Energy Group – North Africa, to discuss the expansion of strategic energy cooperation between Algeria and Saudi Arabia.
According to a statement released by the Ministry of Energy, the discussions primarily focused on the state of bilateral relations and the potential avenues for collaboration between Algeria’s national oil company, Sonatrach, and Al-Madad Energy Group in the hydrocarbons sector. The key points included joint development of oil fields, exploration, research, and production within Algeria’s energy landscape.
Both parties explored new opportunities for partnership and investment at various stages of the oil and gas value chain. The aim is to foster the development of high-impact projects that will not only contribute to the growth of Algeria’s energy industry but also enhance the exchange of expertise, the transfer of knowledge, and the development of human resources in the hydrocarbon sector.
Minister Arkab emphasized that the meeting was part of Algeria’s ongoing efforts to strengthen its enduring and friendly relations with the Kingdom of Saudi Arabia. He highlighted the importance of enhancing an economic partnership rooted in mutual interests and shared objectives for sustainable growth.
Abdulilah Al-Ibayan, for his part, expressed the keen interest of Al-Madad Energy Group in further expanding its investments in Algeria. He praised the favorable investment climate and the promising opportunities the Algerian hydrocarbon sector offers to foreign investors. Al-Ibayan reaffirmed his company’s commitment to strengthening its collaboration with Sonatrach in areas of shared strategic interest, ensuring the alignment of both countries’ economic goals.
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