ALGIERS (Reuters) – Algeria’s national oil company Sonatrach has signed a $490 million production sharing contract with China’s Sinopec, covering the Zarzaitine area in the basin of Illizi.
Sonatrach’s CEO Tewfik Hakkar said that the 25-year deal would secure 95 million barrels of oil overall.
(Reporting by Lamine Chikhi;Editing by Kirsten Donovan)
