The chairman and general director of Sonatrach Abdelmoumen Ould Kaddour and Eni CEO Claudio Descalzi have signed a Memorandum of Understanding (MoU) in Algiers for the development of a partnership in the renewable energy sector
TheMoU aims at identifying, in Sonatrach’s productive sites, areas in which to build solar power production units, performing the feasibility studies in the selected sites, and elaborating the business model for the projects to be developed.
The meeting was also the occasion to assess the ongoing partnership between Sonatrach and Eni, marked by a long-term cooperation in the hydrocarbon sector in Algeria.
Ould Kaddour said, “Sonatrach wants to strengthen its partnership with Eni also in the Upstream, petrochemicals, R&D and marketing sectors, and we are open to all collaboration proposals.”
Descalzi also stated, “Today we confirm our engagement in promoting a sustainable development in Algeria, as an integral part of our energy transition strategy aimed at increasing the use of energy from renewable sources. We also want to intensify our partnership with Sonatrach with new projects, in Algeria as well as abroad”.
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 yields approximately 100,000bpd.
Sonatrach and Eni join hands to strengthen solar energy production in Algeria
Algeria holds one of the highest solar potentials in the world, which is estimated at 13.9 TWh per year. (Image source: NREL/Flickr)
