During a meeting on 20/11 with Algerian Minister of Energy and Mines Mohamed Arkab and the President of Algeria's national oil and gas corporation (Sonatrach), the Prime Minister urged both sides to significantly boost cooperation in the energy and oil and gas sectors.

Specifically, he requested Algeria's support for Vietnam Oil and Gas Group (PVN) to expand its operations in oil and gas exploration, services, refining, fertilizer processing, and polymer fibers in Algeria. He also proposed that Algerian partners collaborate with PVN and Vietnam Electricity (EVN) on solar and wind energy development, and the construction of smart grid systems.

The Inter-governmental Cooperation Committee will serve as the overall coordinator. Accordingly, the Prime Minister assigned the Ministry of Industry and Trade and the Ministry of Finance to facilitate procedures for concrete and effective cooperation between the two sides.

Prime Minister Pham Minh Chinh working with Algerian Minister of Energy and Mines Mohamed Arkab. Photo: VGP

Algeria is rich in crude oil resources, ranking 16th globally in production and 9th in exports. It also stands 4th worldwide in natural gas exports. The oil and gas sector is the country's main economic driver, accounting for 30% of its total gross domestic product.

According to Algerian Minister of Energy and Mines Mohamed Arkab, the Algerian President has instructed the immediate implementation of specific energy and oil and gas cooperation projects between the two countries.

Currently, a joint venture involving PetroVietnam Exploration and Production Corporation (PVEP), a subsidiary of PVN, Algeria's national oil and gas corporation, and PTT Exploration and Production Public Company Limited of Thailand, is collaborating on the Bir Seba oil and gas project. This project has surpassed 55 million barrels of extracted oil, becoming a highlight of energy cooperation between Vietnam and Algeria.

Minister Mohamed Arkab commended PVN's capabilities. He stated that Sonatrach, a key Algerian corporation, considers PVN a priority partner. Sonatrach seeks technical support from PVN across various stages, including exploration, extraction, processing, and refining.

The Minister affirmed he would direct and support relevant businesses to continue cooperation and investment. Algeria also encourages small and medium-sized enterprises to participate in bilateral oil and gas cooperation and has requested Vietnam's assistance in human resource training.

By Phuong Dung