China National Petroleum Corporation signs Algeria deal
Algeria's National Petroleum Company Sonatrach and China National Petroleum Corporation (CNPC) signed on Tuesday a contract for the realization of Skikda’s "condensate topping" project. According to APS, the AD28.059 billion (some $400 million) deal was signed by Sonatrach’s downstream vice-president, Abdelhamid Faghouli, and CNPC vice-president Zhou Jiping, in the presence of the secretary-general of the energy and mining ministry, China’s ambassador to Algiers and Sonatrach’s CEO, Mohamed Meziane.
In early 2004, both sides agreed to enhance their cooperation on petroleum development in the areas such as oil & gas exploration, development, reconstruction of old fields, pipelines and refineries construction, engineering and technical services, equipment manufacturing, personnel training, as well as petroleum development in other countries.
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