2018-10-29
 
The Algerian state-owned company signed a marine exploration contract on Monday with France's Total Oil and Eni for the first time ever in the OPEC member country, Abdelmouen Ould Kaddour, chief executive of Algeria's Sonatrach said.
 
"We will launch a maritime exploration with our partners Total and Eni," said Sonatrach Vice President Farid Ghazali at the signing ceremony. This is a new era for us. "
 
Algeria is seeking to increase its oil production to boost revenues after falling prices in 2014.