In a significant move towards bolstering the local manufacturing of high-tech oil and gas equipment, Sonatrach has signed a Memorandum of Understanding (MoU) and a Confidentiality Agreement with the Canadian company Stream-Flo Industries Ltd. The signing ceremony took place today at Sonatrach's headquarters, with the presence of Mr. Rachid Hachichi, CEO of Sonatrach, and Mr. Mark McNeill, CEO of Stream-Flo Industries Ltd.

This MoU marks the beginning of a strategic partnership between the two companies, aiming to explore the potential of establishing a joint venture focused on the manufacturing of wellheads, production heads, and other oil and gas equipment accessories. Stream-Flo Industries Ltd, known globally for its technical and technological expertise in the manufacturing, maintenance, and marketing of wellhead components and production heads, brings valuable resources and knowledge to the table.

The collaboration aligns with Sonatrach's strategy to enhance control over its developmental processes by fostering high-value partnerships. This initiative aims to promote the local manufacturing of advanced oil equipment and the provision of related services. Additionally, it will facilitate specialized training, knowledge transfer, and the sharing of technological expertise, contributing to the overall growth and development of the local oil and gas industry.

The partnership is expected to create a robust framework for assessing the feasibility of the joint venture, ensuring both companies can leverage their strengths to achieve mutual goals. This MoU represents a significant step towards reinforcing Sonatrach's capabilities and expanding its influence in the global oil and gas market.

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