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Algeria Oilfield Development Project

Project Type:Petrochemical Industry
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Project Location: Algeria
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Since 2004, the traditional strategic cooperation relationship between China and Algeria has been established. From January to June 2021, the bilateral export value of goods between China and Algeria reached 2818129500 US dollars. In May 2022, China and Algeria signed an agreement, which mentioned that the two sides would invest a total of 490 million US dollars to cooperate and develop the Zalzayiting oil field located in eastern Algeria. This China Arab agreement is worth nearly 500 million dollars and has a term of 25 years. With this energy agreement, the two sides will share the reserves of about 95 million barrels of oil resources in Iltsi Province, Algeria.

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