Energy: Arkab receives CEO of Chinese Sinopec Group

ALGIERS-Minister of Energy and Mines Mohamed Arkab received Monday, in Algiers, the CEO of Chinese Group Overseas Oil & Gas Limited (SOOGL), Wu Xiuli, with whom he discussed investment opportunities, mainly in the hydrocarbon and petrochemical fields, the ministry said in a statement.
During this meeting, held at the headquarters of the ministry, “the two sides assessed the cooperation and partnership between Sonatrach Group and the Chinese Group, describing them as “strong” and discussing the opportunities to strengthen them.
According to the statement, the two parties discussed “business opportunities and future investment prospects in upstream oil and gas as well as cooperation in the petrochemical sector in Algeria.”
In this regard, the two officials expressed their wish to see the development of promising projects favoring the exchange of expertise and the transfer of know-how, within the framework of the new law on hydrocarbons.
For his part, Xiuli expressed satisfaction with the partnership between Sonatrach and Sinopec, expressing his keen interest in continuing to invest and strengthen its presence in Algeria, according to the statement.