In a significant move to strengthen international energy partnerships, Petrojet has signed a Memorandum of Understanding (MoU) with Algeria's state-owned oil and gas company, Sonatrach. This collaboration aims to explore the feasibility of establishing a joint venture in Algeria, marking a new chapter in the partnership between Egypt and Algeria in the energy sector.

The MoU follows the framework of a broader agreement signed in 2022 between the Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) and the Algerian Ministry of Energy and Mining. The initiative aligns with the Egyptian petroleum sector’s strategy to bolster international partnerships and enhance cooperation in energy projects.

The proposed joint venture will focus on the design and manufacturing of static equipment in Algeria, adhering to the stringent standards of the American Society of Mechanical Engineers (ASME). Additionally, the venture will provide related services, potentially positioning Algeria as a regional hub for high-quality equipment manufacturing in the energy sector.

The MoU was officially signed by Waleed Lotfy, Chairman and Managing Director of Petrojet, and Rachid Hachichi, CEO of Sonatrach. Both leaders expressed optimism about the potential of this collaboration to drive technological advancement and economic growth in the region.

This partnership underscores the commitment of both nations to leverage their strengths in the energy sector, paving the way for future investments and joint projects that could significantly impact the North African energy landscape.

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