“RussNeft” obtained certificate for the exploration rights in Algeria
Moscow. OAO NK “RussNeft” got a certificate allowing exploration works in Algeria with a status of an onshore operator-investor, the company’s statement says.
Decision on qualification of the Russian oil producing holding was made by the Ministry of Energy and Mining of Algeria and National Agency for Hydrocarbon Resources Valuation (ALNAFT) based on analysis of the documents submitted by the company and holding’s performance reports.
“OAO “NK “RussNeft” long-term development strategy defines the active position of the company in the global raw materials markets. The holding intends to expand into new regions and extend the international activities geography. The interests of “RussNeft” include hydrocarbons fields in Africa and CIS.
The obtained qualification provides for a wide participation of NK “RussNeft” in perspective oil and gas projects of Algeria and demonstrates possibilities in the Russian company’s potential in their joint implementation”, the communication says.