HEAD OF ALGERIAN STATE-OWNED OIL COMPANY CALLS FOR LOCAL MANUFACTURING OF EQUIPMENT

ALGIERS, Abdelmoumen Ould Kaddour, the Chief Executive Officer of Algerian’s State-owned hydrocarbons group, Sonatrach, has called on local companies to invest in the production of equipment needed by the national oil group, and whose annual import bill amounts to between 15 billion and 20 billion US dollars.

He told a media briefing here Sunday on investment opportunities for Algeria companies that Sonatrach’s new strategy seeks to reach an integration rate of 55 per cent, and expressed the wish to see Algerian public and private companies becoming involved in meeting the needs of Sonatrach in terms of equipment and spare parts.

The energy sector wants to get local entrepreneur contributing to developing the hydrocarbon industry, based on investments in oil services, capital goods, industrial sub-contracting, industrial engineering and other technical services and industrial maintenance.

In this respect, he underlined that Sonatrach’s information days on Sunday and Monday are aimed at identifying the expectations and the shortages of national companies which wish to take part in manufacturing the spare parts required in the oil and gas industries.

Source: NAM NEWS NETWORK