Transneft reported on 26 September 2017, that the Vice President of the company Mikhail Margelov and Deputy Director General for Hydrocarbon Transportation at Sonatrach Arbi Bey Slimane initialed a memorandum in the city of Algiers.
The sides expressed their intention to collaborate in such areas as non-destructive testing and safer operation of the pipeline infrastructure.
The memorandum which took 2 years to work out will be signed during the visit of Russian PM Dmitry Medvedev to Algeria this October.
Cooperation with Sonatrach opens great opportunities for Transneft in the promotion of services, technologies and products in the African continent.
Mikhail Margelov pointed out that Algeria would become a new important market for Transneft Diascan to unlock its export potential.
On the same day Mikhail Margelov took part in the next meeting of the mixed intergovernmental commission for commercial-economic and research-technology collaboration.
Sonatrach operates more than 20,000 km of trunk pipelines and owns petrochemical and desalination plants as well as 4 natural gas liquefaction plants and 5 oil refineries.
The annual turnover of Africa’s biggest oil company exceeds $50 billion.