On 12 March 2020, Sonatrach signed a memorandum of understanding with Chevron to start discussions on the partnership opportunities in the hydrocarbon industry. Both companies will discuss opportunities in exploration, development and production of hydrocarbons in the light of the new hydrocarbon law which became effective in December 2019. A future partnership would allow a transfer of technology and know-how which would benefit the various segments of the Algerian oil and gas industry.  In August 2019 it was reported that any new venture projects in discussion between Sonatrach and IOCâs are frozen until the political transition in Algeria is completed. Sonatrach at the time was dealing only with day-to-day tasks to keep existing production going. The political transition was completed with the December 2019 presidential elections.  In April 2019 it was reported that a delegation of Chevron was to visit Algeria in the coming days. Chevron and the authorities were probably to discuss shale oil and gas production opportunities in the country as Chevronâs attempt to take over Anadarko failed.  In March 2019 it was reported that Sonatrach is holding talks with Chevron. Sonatrach SEO Abdelmoumen Ould Kaddour met three high ranking officials from Chevron in charge of overseas E&P development. Chevron is interested un upstream conventional and unconventional hydrocarbon projects. The companyâs move is motivated by fellow U.S. player Anadarko who has been operating in Algeria for several years. A Chevron delegation was to go to Algiers in April to further discuss potential opportunities.  Chevron is not yet present in Algeriaâs E&P sector.
Algeria, not found