John Ardill, ExxonMobil vice-president: “Algeria is an attractive destination for investments in the oil and gas sector”

John Ardill, ExxonMobil vice-president: “Algeria is an attractive destination for investments in the oil and gas sector”
John Ardill, ExxonMobil vice-president: “Algeria is an attractive destination for investments in the oil and gas sector”

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The vice-president in charge of exploration and new opportunities at the American company ExxonMobil, John Ardill, indicated, Thursday in Algiers, that “Algeria constitutes an attractive destination for investments in the oil and gas sector”

John Ardill was speaking on the occasion of the signing ceremony of a memorandum of understanding between Sonatrach and ExxonMobil which took place at the headquarters of the Group’s general management.

In this regard, the vice-president of ExxonMobil underlined that “the memorandum of understanding signed after more than two (2) years of preparation and consultation between the two parties, constitutes an important first step in the creation of a partnership which will contribute to further unlocking the development potential of Algeria’s energy resources.”

Mr. Ardill also praised the “historic role of Algeria in the field of development and marketing of hydrocarbons”, highlighting the role of Sonatrach as a pioneer company in the export of liquefied natural gas (LNG). ) to the whole world since 1964.

After presenting ExxonMobil’s experience, expertise and technological capabilities in hydrocarbon development, Mr. Ardill indicated that the signing of this protocol “establishes the foundations and the appropriate framework for a solid partnership between two parties to unlock the hydrocarbon potential in Algeria, which constitutes an attractive destination for investments in the oil and gas sector.

The official affirmed ExxonMobil’s commitment to “work together with Sonatrach to transfer expertise and contribute to strengthening Algeria’s place as a global energy power.”

“Historic” memorandum of understanding

For his part, the CEO of the Sonatrach Group, Rachid Hachichi, considered that the Memorandum of Understanding, signed between Sonatrach and the global American oil and gas company “ExxonMobil”, was “historic and should make it possible to develop mutual cooperation. beneficial throughout the value chain of the hydrocarbon industry in Algeria.

In his speech, Mr. Hachichi considered that “the signing of this historic Protocol with our partner ExxonMobil, with the aim of developing mutually beneficial cooperation throughout the value chain of the hydrocarbon industry in Algeria , particularly in the areas of exploration and production, will make it possible to take a big step in terms of recovery and valorization of our energy resources, which will allow our country to begin a new stage of sustainable development.

For Mr. Hachichi, this memorandum of understanding “does not only constitute a common desire to develop a serious and privileged partnership, but also aims to realize a common vision between Sonatrach and ExxonMobil, which will allow both parties to examine ways and means of exploiting the enormous potential in energy resources in Algeria.

Sonatrach aims, through this “win-win partnership”, to benefit from the pioneering experience of the American company and its technological capabilities in the field of oil and gas, added the CEO.

“win-win partnership”

The signing of this protocol is part of the vision adopted for the development of the energy industry, he said, welcoming at the same time “the interest shown by the American company ExxonMobil in ‘investment in Algeria’.

In this regard, Mr. Hachichi stressed that the decision of the American company to sign this protocol “testifies to its prospecting of the great potential of the Algerian mining sector, and reflects the confidence enjoyed by Sonatrach as a reliable partner capable of developing a partnership beneficial and fruitful.”

Furthermore, he reiterated “Algeria’s determination, under the leadership of the President of the Republic, Mr. Abdelmadjid Tebboune, to intensify investment programs and take advantage of beneficial partnerships, in order to further strengthen the rates of economic growth and diversify the economy with a view to achieving social prosperity.

For his part, the vice-president of the CEO of Sonatrach, in charge of Business Development and Marketing, Ferhat Ounoughi, revealed that the conclusion of this memorandum of understanding with the American company was the fruit of the efforts made by both parties to raise challenges and identify future opportunities in order to achieve common objectives in the field of hydrocarbons, saying he is optimistic about achieving “a great success within the framework of a solid partnership between Sonatrach and ExxonMobil”.

Note that the Memorandum of Understanding co-signed by Sonatrach and ExxonMobil will allow the partners to examine the opportunities available with a view to developing hydrocarbon resources in the Ahnet basins and the Gourara basin, by “focusing on excellence operational, technological innovation, respect for the environment and best practices in sustainability.

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