Shell & Sonatrach Ink Cooperation Deal

Royal Dutch Shell and Sonatrach, the Algerian national energy company, have signed a Memorandum of Understanding covering multiple business initiatives, both in Algeria and internationally.

Areas of cooperation will include investigating the commercial and technical feasibility for joint developments in Algeria, including upstream development projects, LNG, products and marketing and investigating and evaluating possible asset swap transactions for upstream exploration, development and appraisal projects.

The agreement was signed in the presence of Mohamed Mezaine, PDG Sonatrach and on behalf of Shell by Catherine Tanna, Executive Vice President, Africa at a signing ceremony in Algiers.

Ms. Tanna said: "This agreement confirms Shell's interest in investing in Algeria and the growing relationship between our two companies. In this agreement, Shell sees an important opportunity to build on our current activities and relationships in the country by developing new projects and initiatives jointly with Sonatrach, in Algeria and internationally."