Congo - Algeria/Energy cooperation: Congo and Algeria sign a new strategic partnership
Algeria's Minister of Energy and Mines, Mohamed Arkab, is in Brazzaville to strengthen the partnership with Congo in the fields of hydrocarbons, energy... A memorandum of understanding was signed on May 21 between him and the Congolese Minister of Hydrocarbons, Bruno Jean Richard Itoua, in the presence of the Minister of International Cooperation, Denis Christel Sassou Nguesso.
The memorandum of understanding, which constitutes the new roadmap for cooperation, aims to promote bilateral relations between Congo and Algeria "in the field of hydrocarbons on a basis of equality and mutual interest" , based on respective priorities and strategies. The agreement also provides for the sharing of experience between Algeria's state-owned Sonatrach and Congo's Société Nationale des Pétroles in the downstream oil sector.
Through this new memorandum of understanding, the two countries hope to consolidate their energy cooperation, by establishing a strategic partnership in the oil and gas sector. " We need to raise the level of cooperation to make it a win-win situation. Algeria is ready to work with the Congolese side, particularly in terms of training and skills transfer. The Algerian President wishes this cooperation process every success," said Mohamed Arkab.
The foundations for this cooperation were laid in Algiers in May 2022, during a visit by the Congolese Minister of Hydrocarbons, Bruno Jean Richard Itoua. What's more, the two countries support the project to create an African Energy Bank, an innovation on the continent. During the various exchanges at ministerial level, Mohamed Arkab and Bruno Jean Richard Itoua reiterated their desire to promote the sharing of experiences since the signing of the minutes of the discussions in Algiers on May 24, 2022.
In terms of reforms, the two countries are pushing for the establishment and organization of agencies to regulate and promote activities in the hydrocarbons sector. They are also in favor of drawing up standard oil exploration and production contracts. " This agreement is the result of the will of the two Heads of State; it is what enabled the mobilization of Algerian and Congolese executives. This agreement is an important step that will enable the Congo in particular to boost national oil and gas production. Everything is in place to ensure that the project moves forward in the right direction ", assured Bruno Jean Richard Itoua.
Denis Christel Sassou Nguesso, his colleague in charge of international cooperation and the promotion of public-private partnerships, called for cooperation to be expanded and commitments to be fulfilled. To this end, the parties will work together to develop the gas sector, i.e. liquefied natural gas (LNG), exchanges in the downstream sector, and the development of new technologies.They will also explore opportunities for Sonatrach's involvement in the upstream oil sector in Congo.
Source: www.adiac-congo.com
