Algeria is interested in Russian Investments in Oil and Gas Industry
Algiers, May 20, 2006 – RIA Novosti. Algeria is interested in attracting Russian investments in the country’s oil and gas industry, said Kamel Abdelrahim, Algerian Co-Chairman of the Russian-Algerian Business Council, summing up the results of the meeting of the Council.
According to him, the new legislation of the country related to hydrocarbons allows some freedom in this business.
“We see no reasons why Russian companies should be barred from this market” said Abdelrahim. He also pointed out that Russian companies could first of all participate in exploration and development of oil and gas fields as well as in feed transportation.
The Council Co-Chairman also said that Algeria was interested to have Russian companies investing in oil and gas industry.
Moreover, he stressed that in Algeria there were other “promising areas of cooperation”.
Abdelrahim expressed hope that the membership of the Business Council would grow with each next meeting. In her turn, Tatyana Gvilava, Director of the Russian-Arabian Council including 22 countries, informed all those present that the meeting of her Council would be held on September 4 in St. Petersburg. She also expressed the opinion that the next meeting of the Russian-Algerian Business Council might be dated for this time.
Abdelrahim and Russian Co-Chairman of the Council Mikhail Gutseriev agreed with her proposal. The documents on establishing the Russian-Algerian Business Council were signed on March 9, 2006.
“We see no reasons why Russian companies should be barred from this market” said Abdelrahim. He also pointed out that Russian companies could first of all participate in exploration and development of oil and gas fields as well as in feed transportation.
The Council Co-Chairman also said that Algeria was interested to have Russian companies investing in oil and gas industry.
Moreover, he stressed that in Algeria there were other “promising areas of cooperation”.
Abdelrahim expressed hope that the membership of the Business Council would grow with each next meeting. In her turn, Tatyana Gvilava, Director of the Russian-Arabian Council including 22 countries, informed all those present that the meeting of her Council would be held on September 4 in St. Petersburg. She also expressed the opinion that the next meeting of the Russian-Algerian Business Council might be dated for this time.
Abdelrahim and Russian Co-Chairman of the Council Mikhail Gutseriev agreed with her proposal. The documents on establishing the Russian-Algerian Business Council were signed on March 9, 2006.
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