Oil Minister Jabbar Ali al-Allaibi called on Tuesday for Algeria’s Sonatrach to invest in Iraq, while Algeria confirmed the desire of its companies to implement oil projects in Iraq.
“The bilateral relations between the two countries should be strengthened, especially in the field of oil and energy,” Al-Luaibi told Algerian Energy Minister Sonatrach during a meeting with the Algerian Energy Minister on the sidelines of the OAPEC meetings.
“Sonatrach is a reputable company with a good reputation, especially in the gas sector.”
For his part, Algerian Energy Minister Mustapha Qitouni stressed on the need to expand the horizons of joint cooperation in addition to the desire of the companies of his country to implement oil projects in Iraq. He called on the Iraqi oil minister to visit Algeria early next year to view and visit some oil facilities.
Algeria is the ninth OPEC country according to oil revenues, and ranked Algeria in ninth place in terms of net revenues of oil exports to OPEC countries for the first half of 2008 with a return of 4 billion dollars.