The Sonatrach group and the Ugandan National Oil Company have signed in Algiers a memorandum of understanding aimed at evaluating cooperation opportunities in the field of hydrocarbons, a Sonatrach press release said.
This signature took place on Sunday, under the presidency of the President of the Republic, Mr. Abdelmadjid Tebboune and his Ugandan counterpart, Mr. Yoweri Museveni, on a state visit to Algeria, the same source said.
Signed by the CEO of Sonatrach, Toufik Hakkar and Mr. Proskovia Nabanga, Managing Director of the Uganda National Petroleum Corporation, this memorandum of understanding aims to "jointly evaluate cooperation opportunities across the oil and gas value chain".
"This protocol covers several areas of cooperation related to exploration & production, marketing, processing and downstream activities.
It also includes aspects related to oil and gas services, as well as provisions for the development of training and the exchange of expertise," the statement said.
Through this agreement, "Sonatrach seeks to develop partnership opportunities with the Uganda National Oil Company so as to enable better use of the capacities available to both parties,
according to the document.
Thus, this memorandum of understanding is part of "Sonatrach's strategic orientation targeting African markets and aiming to strengthen its presence at the continental and regional level," Sonatrach said.