The Algerian energy sector continues to attract foreign investments and the attention of regional and international companies, especially operating in the oil, gas, petrochemical and fuel sectors, with the aim of establishing joint investment projects, given the promising opportunities that this sector provides that predict huge investments that generate returns that energy companies are looking for.
Today, Sunday, May 28 (2023), the Algerian Minister of Energy and Mines, Mohamed Arkab, received a delegation from the Saudi “Delta Energy” company, headed by Director General Badr Al-Aiban, to discuss business and investment opportunities between the two sides, according to a ministry statement.
The two parties discussed investment opportunities in the Algerian energy sector, between the state oil giant Sonatrach and the Delta Energy Company, especially in the field of hydrocarbons from source to downstream, by establishing promising investment projects for both sides, according to information seen by the specialized energy platform.
Investment in the field of hydrocarbons
Minister of Energy and Mines Mohamed Arkab welcomed the cooperation between the Algerian energy sector and the Saudi company, pointing to the historical and fraternal relations existing between Algeria and the Kingdom of Saudi Arabia, especially with regard to the energy and mining sector.
Arkab explained the importance of cooperation and partnership between companies in Algeria and Saudi Arabia, as he presented the investment and partnership opportunities offered by the sector, especially in the field of hydrocarbon exploration, development and exploitation, according to statements monitored by the specialized energy platform.
He said that the cooperation between the Algerian energy sector and the Saudi company comes within the framework of the new hydrocarbons law, which offers many advantages and facilities to investors, pointing to the potential for cooperation and great investment opportunities in the field of petrochemicals and all oil and gas manufacturing industries, as well as in the field of renewable energy and hydrogen development.
The two sides highlighted the importance of exchanging experiences and transferring knowledge between the Algerian company Sonatrach and the Saudi Delta Energy Company, and establishing mutually beneficial partnerships inside and outside Algeria, especially within the framework of the government company Sonatrach’s strategy to enter the African market.
For his part, Badr Al-Aiban, General Manager of the Saudi Company, said that there is great interest on the part of Delta Energy to invest in the Algerian energy sector, and to identify tangible projects, especially in the field of hydrocarbons, in light of the appropriate investment climate and the confidence that characterizes the relations of the two countries.
Algerian-Saudi cooperation
In October 2022, the Algerian energy sector began to attract Saudi investments in the fields of new and renewable energies, electricity transmission and petrochemicals, according to information seen by the specialized energy platform.
The Minister of Energy and Mines, Mohamed Arkab, received two delegations from the “Ajlan & Brothers” and the Saudi “Ability” holding companies, to discuss job and investment opportunities with energy sector companies in Algeria, especially in the field of energy and mines.
The two sides discussed investment opportunities in the Algerian mining sector, especially research, exploitation, production and conversion of fertilizers, in addition to investment opportunities and cooperation in the field of sea water desalination. The two Saudi companies also called for talks with representatives of Sonatrach, Sonelgaz and Algerian mines.
What is Delta Energy?
“Delta Energy” was established in Jeddah, Saudi Arabia, as one of the strong arms of the “Delta Oil” company, which had the strongest oil investments in Azerbaijan, according to information seen by the specialized energy platform, quoting the company’s website.
The Saudi company focuses on work in North Africa, in addition to its investments in other companies, as it is the main shareholder in the Canadian company “Centurion Energy”, which has been operating in Egypt, since 1999.
On September 20, 1994, Delta Energy signed an agreement with 10 foreign oil companies, known as the “Contract of the Century,” to become members of the international operating company AIOC in Azerbaijan and the Azerbaijan National Oil Company.
In 1995, the company also signed an alliance agreement with the US company Unocal, under which the “Cent Gas” alliance was formed, in addition to participating with a group of international oil and gas companies in projects inside Russia, Turkmenistan and Afghanistan.
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