Posted by: Azernews

Azerbaijan and Algeria, within the framework of the 10th meeting of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) ministers, discussed the expansion of cooperation between Algerian Sonatrach company and SOCAR.

The Azerbaijani Energy Ministry reported that within the framework of this meeting, Azerbaijani Energy Minister Parviz Shahbazov met with Minister of Energy of Algeria Mustapha Guitouni and CEO of Sonatrach Abdelmoumen Ould Kaddour.

At the meeting the sides exchanged of views on the development of cooperation in the energy sphere between the two countries. Guitouni said that Azerbaijani companies express interest in the energy sector of Algeria.

Shahbazov noted that the Memorandum of Understanding (MoU) between the relevant ministries of the two countries is close to completion.

During the meeting cooperation between SOCAR Trading and Sonatrach in the oil sector, as well as cooperation with the “Neftqazelmitədqiqatlayihə” Institute was also discussed.

Algeria recognized independence of Azerbaijan in. Diplomatic relations between Azerbaijan and Algeria were established in April 1994.

Algeria’s diplomatic mission has been operating in Baku since 2015. An agreement on extradition has been signed during Algeria’s Minister of Justice Tayeb Louh’s visit to Azerbaijan in July and it is considered the first intergovernmental agreement between the two states.

SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.

SOCAR established joint companies (including Georgia and Turkey) alliances, operating in various sectors of oil and gas spheres. It has representative offices in Georgia, the U.S., Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran, Germany, Ukraine, Belgium and Canada.

Sonatrach is an Algerian government-owned company formed to explore the hydrocarbon resources of the country. It has some concessions in Libya, Mauritania, Peru, Yemen and Venezuela. Its diversified activities cover all aspects of production: exploration, extraction, transport, and refining. It has diversified into petrochemistry and the desalination of seawater.

By Sara Israfilbayova