Ref. DEA 17 Apr '20 along the lines of TPAO + Zarubezhneft's MoU with Sonatrach paving the way for discussions over joint E&P opportunities in the country, ExxonMobil has reportedly done the same, taking advantage of the country's new hydrocarbon law. Inter alia, this includes the absence of the 51% required state participation in all foreign investment projects, and likewise the stateâs pre-emptive right in proposed sale of Algerian assets to foreign investors.
ExxonMobil, TPAO and Zarubezhneft each signed an MoU with Sonatrach paving the way for discussions over joint E&P opportunities in the country, taking advantage of its new hydrocarbon law. Inter alia, this includes the absence of the 51% required state participation in all foreign investment projects, and likewise the stateâs pre-emptive right in proposed sale of Algerian assets to foreign investors.