Algeria's Sonatrach to help in Iraq’a oil and gas exploration projects

img1The government-run energy company of Algeria, Sonatrach, is planning possible investment opportunities in Iraq’s oil exploration and natural gas projects

According to Reuters, Jabar al-Luaibi, minister of oil in Iraq, will hold meeting with Mustapha Guitouni, minister of energy in Algeria, who arrived in Baghdad on Sunday.

The source reported that the senior delegation from Algeria are expected to discuss with the Iraqi energy companies the ways to take steps toward sealing a cooperation agreement with Sonatrach, with the specific focus being to develop gas projects in Iraq.

The Iraqi oil minister said that the country aims to take forward the collaboration with Algeria in developing energy resources across the region. On his part, Guitouni also expressed hope of strengthening cooperation in oil exploration and natural gas projects in Iraq, said the source.

Algeria is one of the main suppliers of natural gas to Europe. The country exports gas through pipelines and on tankers after liquefying the gas in plants.

Iraq is OPEC’s second largest producer of crude after Saudi Arabia, with output of 4.4 mmbbl per day. Algeria, also an OPEC member, has estimated output of one mmbbl per day.

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