Before the 10th meeting of the Joint Ministerial Monitoring Committee of the OPEC + countries, the Minister of Energy of the Russian Federation Alexander Novak met with the Minister of Energy of the People's Democratic Republic of Algeria Mustafa Geotuni and the CEO of Sonatrach Abdelmumen Ould-Kaddour.
During the talks, the Russian Minister noted that he believes the June decision to achieve a 100% performance of OPEC +.
"We hope to stabilize the market and show ourselves to be responsible players, not only about raising prices, but about creating stable and predictable rules of the game in the oil sector in the interests of all - producers, consumers and investors," Alexander Novak said.
The parties discussed bilateral cooperation in the oil and gas sector. In particular, the activities in Algeria of a number of Russian companies (Gazprom, Stoytransgaz), as well as cooperation in the power industry.
"I know that Algeria's partners are attracted by the processing and interpretation of seismic data, geological exploration of poorly studied regions, as well as enhanced oil recovery technologies. In this regard, I consider it very promising to establish a Joint Center for the Processing and Interpretation of Geophysical Data. It seems that this center will become an important tool for the development of the exploration sector and will assist in the implementation of the state program of geological exploration of Algeria, "the Russian Minister noted.
Mustapha Guitouni indicated readiness to take part in the work of the Russian Energy Week in October this year.