ALGIERS, Sept 25 (Reuters) - Chevron Corp is meeting
Algeria's state-owned Sonatrach to discuss possible
partnerships, Sonatrach said on Wednesday, without giving
further details.
Sonatrach has said it wants to develop partnerships with
foreign oil companies to boost output and exports, but Chevron's
visit is the first by a U.S. major since mass protests broke out
in February, unseating veteran president Abdelaziz Bouteflika.
Algeria, a member of the Organization of the Petroleum
Exporting Countries and a major gas supplier to Europe, has
struggled to lift production to meet rising domestic demand,
while foreign investors have often baulked at contract terms.
Sonatrach has a deal with Britain's BP and Norway’s
Equinor to develop Algeria's shale gas reserves, but
industry sources said in March that talks with Exxon Mobil
on developing a gas field had stalled.
Algeria is expected to amend its energy law to encourage
foreign investors but without ending a rule that maintains
majority local ownership.
(Reporting by Lamine Chikhi, editing by Angus McDowall and
Louise Heavens)