oil and gas

Energy Minister receives UAE ambassador accompanied by delegation from “Masdar” Company-

July 28, 2022

ALGIERS-The Minister of Energy and Mines Mohamed Arkab received, Wednesday, the Ambassador of the United Arab Emirates (UAE) in Algeria, Youcef Saif Khamis Subaa Al-Ali, accompanied by a delegation from the Emirati Company “Masdar “, the ministry said in a statement.

“The two parties reviewed the state of the cooperation relations between the two countries in the field of energy and mines, qualified as fraternal, and the means of their strengthening,” specified the same source.

Mr. Arkab, on this occasion, emphasized the investment and partnership opportunities offered by the energy sector in Algeria, in particular the exploration, development and exploitation of hydrocarbons within the framework of the new law on hydrocarbons which presents several facilitations and advantages to investors, added the press release.

The two parties also discussed investment opportunities in the mining sector in Algeria, in particular the research and exploitation of rare earths and precious metals, according to the same source.

They noted, on the other hand, the “significant opportunities for cooperation and investment that exist in the field of renewable energies”.

The parties finally welcomed “the process of dialogue and the permanent consultations between OPEC and non-OPEC countries for the stabilization of the markets in the medium and long term”, according to the press release.

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