ALGIERS — The Algerian Agency for the Development of Hydrocarbon Resources (Alnaft) and the U.S. company Occidental Petroleum (OXY) on Sunday in Algiers signed two agreements to carry out studies assessing the hydrocarbon potential of two exploration blocks.
The blocks in question are El Ouabed and Dahar, located respectively in the Benoud trough and the northern sections of the Berkine and Oued Mya basins, Alnaft said in a statement.
According to the same source, these agreements, “part of efforts to strengthen cooperation between Alnaft and Occidental Petroleum,” are intended to identify new investment opportunities in hydrocarbon exploration and development.
“The two study agreements signed between Alnaft and Occidental Petroleum underscore their commitment to working together to advance the assessment and development of Algeria’s national hydrocarbon resources”, the statement added.