Algeria nears Chevron, ExxonMobil deals as country aims to boost oil and gas production, exploration

Algeria nears Chevron, ExxonMobil deals as country aims to boost oil and gas production, exploration

Algeria is close to signing a deal with U.S. oil and gas giant Chevron Corp. as the OPEC member aims to increase natural gas exploration and production and remain a key supplier of the fuel to Europe. 

State-run energy firm Sonatrach will ink the agreement to develop a large oil and gas field “within the next few days,” Energy Minister Mohamed Arkab said in an interview with state TV last week. 

Before year-end, the country will also sign contracts with ExxonMobil Corp. to develop “very important fields that will make a very significant addition to the production of natural gas in Algeria,” he added.

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