Russia’s oil and natural gas state monopoly Gazprom has been offered joint venture exploration projects in Algeria, the first foreign company to be invited to work in the country. The offer was discussed at a meeting between Gazprom officials and the Algerian government earlier last week. Gazprom will participate in an international tender for the exploration and development of more than 30 prospective hydrocarbon deposits amounting to an estimated 20 percent of Algeria’s territory. Gazprom’s overseas branch, Gazprom International, is already operating in Algeria, developing al-Assel oil and gas field in the east of the country in cooperation with Algeria’s Sonatrach. Sonatrach holds the state monopoly for natural gas exports.

By John Daly

Source: Oilprice