Sonatrach Signs Oil Deal with Pertamina, Repsol

摘要

Algeria’s Sonatrach has signed a production sharing contract with Spain's Repsol and Indonesia’s Pertamina for the Menzel LedjmetBlock under the North African Opec producer's new hydrocarbons legislation. The deal covers Blocks 405a and 215 in the Menzel Ledjmet and Oulad N’sir perimeters respectively after an initial agreement wasreached last September among the existing partners. The latest deal under hydrocarbons law 19-13 is a positive sign for Algeria’sability to retain investors after struggling to attract signifi cant levels of foreign investment during successive bid licensing rounds since2008.