Algeria : Sonatrach inks $5.4 billion oil and gas deal with Saudi Midad Energy

Sonatrach has signed a $5.4 billion production-sharing agreement with Saudi Arabia’s Midad Energy North Africa for oil and gas exploration in the Illizi South perimeter. The 30-year deal, including a seven-year exploration phase, is expected to yield nearly one billion barrels of oil equivalent, strengthening energy ties between Algeria and Saudi Arabia.