Algerian state-owned energy company Sonatrach and Thai oil and gas firm PTT Exploration & Production (PTTEP) have signed a protocol of understanding. The agreement aims to examine potential cooperation areas of mutual interest, including investment in hydrocarbon exploration and production in Algeria and internationally. The deal also covers innovation, energy transition, and new technologies. Sonatrach's CEO, Nour Eddine Daoudi, and PTTEP's CEO, Kanita Thanita Sartwattayu, signed the protocol on October 5.
The protocol was signed on the sidelines of the North Africa Petroleum and Energy Conference (NAPEC 2026) in Oran, which took place from October 5 to 7. The agreement seeks to strengthen existing relations between the two companies and expand their cooperation across the hydrocarbon value chain. PTTEP has been present in Algeria since 2002, working on several major exploration and development projects in partnership with Sonatrach.
The cooperation protocol covers various areas, including investment in exploration and production, development of local content, and innovation. It also focuses on energy transition and new technologies. This move aligns with Sonatrach's strategy to diversify its partnerships and explore new opportunities in the energy sector. The company has been actively promoting Algeria's hydrocarbon potential at NAPEC 2026.
NAPEC 2026 brought together industry experts and companies to discuss the latest trends and developments in the energy sector. Algeria's energy sector has been gaining attention from international investors, with the country seeking to boost its hydrocarbon production. The conference provided a platform for Sonatrach to showcase its projects and attract potential partners.
PTTEP's involvement in Algeria's energy sector dates back to 2002, with the company participating in several major projects with Sonatrach. The Thai firm has been actively expanding its presence in the region, seeking to increase its hydrocarbon reserves. This cooperation protocol is expected to further strengthen PTTEP's position in Algeria's energy sector.
The protocol is also seen as a significant development in Algeria's efforts to promote its energy sector and attract foreign investment. The country has been working to improve its investment climate and provide incentives for international companies to participate in its energy projects. The cooperation between Sonatrach and PTTEP is expected to have a positive impact on Algeria's energy sector.
Key areas of cooperation between Sonatrach and PTTEP include exploration and production, innovation, and energy transition. The two companies will work together to identify new opportunities and develop existing projects. This partnership is expected to contribute to the growth of Algeria's energy sector and enhance the country's position as a major player in the global energy market.
Key points
- Sonatrach and PTTEP have signed a protocol to explore cooperation opportunities in hydrocarbon exploration and production in Algeria and internationally.
- The protocol covers areas such as innovation, energy transition, and new technologies.
- The agreement aims to strengthen existing relations between the two companies and expand their cooperation across the hydrocarbon value chain.
