SONATRACH*, Algeria’s state energy company, and Total (Paris:FP) (LSE:TTA) (NYSE:TOT) today signed a comprehensive agreement strengthening the existing partnership between the two companies.
The agreement enables SONATRACH and Total to expand their partnership by progressing new upstream projects, notably with a new contractual framework for the Timimoun project, continued joint operations for the TFT field under a new agreement and joint development of a new project, as well as the amicable settlement of outstanding differences between the two companies.
The accord also enhances cooperation in other areas including exploration, petrochemicals, solar and international developments.
The agreement underscores the willingness of SONATRACH and Total to continue to work together to further develop and strengthen their historic partnership.
* Société Nationale pour la Recherche, la Production, le Transport, la Transformation et la Commercialisation des Hydrocarbures (SONATRACH)
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