Lukoil and Sonatrach have signed an MoU with the aim to negotiate possible joint investments in Algerian E&P, following similar deals recently between the state company and Zarubezhneft or ExxonMobil. At the end of 2019, the country changed the legislation to make it easier for investors to access resources. Lukoil also cites West Africa as a strategic region, expanding on Ghana, Cameroon, Congo + Nigeria, as well as expansion in the Gulf of Mexico.
Sonatrach signed a MoU with Lukoil, to begin discussions regarding partnership and a possible upstream country entry for the Russian-firm.