[ecr]

Al-Aiban made the statement at an audience granted to him by the minister of state, minister of Energy, Mining and Renewable Energy, Mohamed Arkab, at the ministry's headquarters, in the presence of the CEO of Sonatrach, Rachid Hachichi, and some of the ministry's executives, the statement said.

Sheikh Abdulelah bin Mohammed bin Abdullah Al-Aiban said Midad Energy North Africa wanted to strengthen its investments in Algeria, given the "exceptional" investment climate and the "promising" opportunities in Algeria's hydrocarbon sector, stressing the "Saudi company's commitment to boosting cooperation with the group Sonatrach in areas of common interest, in the best economic interests of both countries."

Arkab emphasized "the importance of developing an economic partnership based on mutual interests," noting that the meeting was part of the joint efforts to further develop the already strong fraternal relations between Algeria and Saudi Arabia.

During the meeting, the two sides discussed "the bilateral relations and cooperation opportunities between the group Sonatrach and the Saudi company Midad Energy North Africa, mainly in the development of deposits, research, exploration and production of hydrocarbons in Algeria."

The two sides also discussed new opportunities of partnership and investment in the oil and gas industry, to develop strategic projects contributing in knowledge exchange and transfer and developing skills in the hydrocarbons sector, according to the statement.

[/ecr]