Bouteflika cancels six exploration contracts with foreign companies

02 May, 2011

Algiers- President Abdelaziz Bouteflika, has canceled contracts in millions of dollars by Sonatrach, signed by former Minister of Energy and Mines, Chakib Khelil with Chinese, Vietnamese, Spanish and Gulf companies in the field of oil exploration in southern Algeria.

After the freezing of several contracts at the time of the former Minister Chakib Khelil, who left government immediately after what was known by “Sonatrach scandal”, involving the former CEO Mohamed Meziane and executives of the company, it was recently decided the cancellation of six exploration contracts with foreign companies, including three Spanish, Chinese, Vietnamese, and U.S. Gulf.

According to information held by Ennahar six contracts relate to contracts concluded at the time of the former Minister Chakib Khelil between 2003 and 2006 to 2009. Among these contracts, an agreement with the Chinese company "Sinipac" on the exploration project which was signed in 2006.

Among the largest contracts that have been officially canceled, include one with the Spanish company "Ripsol" for exploration and exploitation of oil in the south of the wilaya of Illizi.

Ennahar / Mohamed B.

Source: Ennahar.
Link: http://www.ennaharonline.com/en/economy/6413.html.