Minister of Energy, Mohamed Arakab, met with MEDAD Energy CEO Sheikh Abdelilah Al-Aiban on Monday to discuss enhancing cooperation in Algeria's hydrocarbon sector.
The meeting, detailed in a ministry statement, highlighted bilateral relations between Algeria and Saudi Arabia and explored collaboration opportunities between Sonatrach and MEDAD Energy. Discussions centered on field development, research, exploration, and production in the hydrocarbon sector.
Arakab emphasized the importance of strategic projects that facilitate expertise exchange, knowledge transfer, and human resource development in hydrocarbons. He also underscored the meeting's role in strengthening the fraternal ties and fostering mutually beneficial economic partnerships between the two nations.
Sheikh Abdelilah Al-Aiban expressed MEDAD Energy's commitment to boosting investments in Algeria, citing the favorable investment climate and abundant opportunities in the oil and gas sector. He reiterated the company's dedication to working with Sonatrach to achieve shared economic goals.
The meeting marks a significant step toward deeper economic collaboration between Algeria and Saudi Arabia, promising expanded opportunities in the hydrocarbon industry.
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