According to sources, Chevron is in talks with Algeria about an energy exploration deal.

 







According to sources, Chevron is in talks with Algeria about an energy exploration deal.

 In 2020, the energy giant signed a memorandum of understanding with state-backed oil company Sonatrach to explore natural-gas opportunities. The recent moves come as western oil companies seek alternatives to Russia's oil and gas.


  • Chevron has sent representatives in government relations, security, and business development to Algeria to meet with government officials.
  • Chevron has also sent consultants to assess Algeria's shale and non-shale gas resources, the country's contractual terms, and power circles.
  • Algeria has larger shale gas resources than the U.S. and has the third-largest recoverable shale resource in the world.
  • A Chevron spokeswoman said the company has an agreement with Algeria to access data on the country's biggest natural-gas reservoirs — the Ahnet, Gourara, and Berkine basins.

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