document: On 17 April 2020 it was announced that Sonatrach signed two memoranda of understanding (MOU) on upstream exploration with Turkish company TPAO and Russian company Zarubezhneft. The MOU's will set a frame in which further talks will be held with each company to identify attractive projects in Algeria's upstream. Zarubezhneft is specialist in IOR/EOR and is likely to focus on projects to assist Sonatrach increasing the oil recovery at its existing fields.  This comes one month after Sonatrach signed a similar agreement with Chevron and indicates that the revised hydrocarbon law introduced in December 2019 is attracting new companies to Algeria.
summary: 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.