Kenya Algeria sign MoU on Oil and Gas

Kenya has signed a Memorandum of Understanding with Algeria to promote bilateral cooperation in the field of oil, gas and power.

In a signing overseen by of President Uhuru Kenyatta and Prime Minister Abdelmalek Sellal at the Presidential Palace in Algiers Cabinet Secretary of Foreign Affairs and International Trade Amb. Amina Mohamed signed on behalf of Kenya while her counterpart Mr. Ramtane Lamamra signed for Algeria.

“As Kenya looks forward to commercial exploitation of its oil resources, we look forward to learning from Algeria’s expertise including the drawing up of appropriate legal instruments and capacity building to enable us to take charge of our hydrocarbon resources right from the onset,” CS Amina said after the signing.

According to a statement by the Presidential Strategic Communications Unit the MoU will seek to improve and stimulate economic and industrial development in both countries in the field of oil, gas and power which both countries consider strategic to their economies.

The MoU will also focus on onshore and offshore exploration and production of hydrocarbons, development of petrochemical industries, refinery maintenance, domestic marketing, transport and distribution of petroleum products.
President Kenyatta is on a 3 day visit to Algeria in a visit that will see various bilateral agreements in the economic and political fields.

Author: OilNews

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