Summary:

On 24 and 25 June 2025, Algerian President Abdelmajid Tebboune received delegations from US energy firms ExxonMobil and Chevron to discuss energy cooperation and investment facilitation in Algeria.  

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The meeting was also attended by the Director of the Office of the President of the Republic, the Advisor to the President of the Republic in charge of Diplomatic Affairs. as well as the Ministers of State, Energy, Mines and Renewable Energies and the CEO of Sonatrach. 

ExxonMobil’s Vice President of Global Exploration, John Ardill, said that President Tebboune truly understands the intricacies of investment opportunities and stated that he hopes to move forward quickly with this investment, which will benefit hydrocarbon production in Algeria. 

Meanwhile, Minister of Energy, Mines and Renewable Energies, Mohamed Arkab, received the President of the Russian company GEOTEK to discuss enhancing cooperation in mining and oil exploration onshore and offshore. 

Additionally, the CEO of Sonatrach, Rachid Hachichi announced partnership with Mauritanian Société Mauritanienne des Hydrocarbures (SMH) to create a joint venture and train Mauritanian professionals in Sonatrach’s units. The two sides also signed a Non-Disclosure Agreement (NDA) concerning oil and gas fields across both nations. 

The National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) also signed a framework agreement with the Omani company Petrogas Exploration and Production to explore new investment opportunities in the hydrocarbon sector in Algeria. 

Outlook: 

The hosting of international energy firms by President Abdelmajid Tebboune is likely intended to signal a welcoming attitude toward foreign investors in the energy sector as Algeria looks to remain competitive as an FDI destination amidst a global realignment of the energy market following Russia’s invasion of Ukraine. 

The diversity of partners seeking energy cooperation with Algeria is likely to strengthen the sector by allowing the exploration and exploitation of additional fields. 

This is likely to help to increase production to maintain or improve Algeria’s position as second exporter to Europe via pipelines behind Norway. Increasing production is also likely to grow foreign currency reserves and promote job creation as revenues are to be invested in industrialization. 

Algeria is likely to continue promoting hydrocarbon energy export while developing renewable energy projects that are set to begin production in the coming years as European demand for renewable energy grows. 

Improving investment laws, general political stability, improved infrastructure, and a ban on strikes in the energy sector are likely to continue attracting investors.  

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