Eni and Sonatrach strengthen cooperation in renewables

 The Chairman and General Director of Sonatrach Abdelmoumen Ould Kaddour and the Chief Executive Officer of Eni Claudio Descalzi signed today in Algiers a Memorandum of Understanding for the development of a partnership in the renewables sector.

The MoU 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 commented: “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 declared “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 100,000 barrels of oil per day.