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After securing a contract worth more than $5 billion, Saudi Arabia's Medad Energy sets its sights on new opportunities

Saudi Arabia's Medad Energy is clearly demonstrating its ambitions in Algeria with a strong desire to seize new partnership opportunities.

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A few months after signing a $ 5.4 billion production sharing agreement, Sonatrach, for the development of the "Illizi Sud" perimeter, the Saudi group Medad Energy is strengthening its presence in Algeria. During a meeting in Algiers with the Minister of Energy and the CEO of Sonatrach, the parties assessed the progress of the project, which includes a research phase ($288 million) and a development and exploitation phase ($5.1 billion ). Medad Energy now aims to expand its partnership to the entire value chain of the sector, integrating innovation, skills transfer, and local content. The project is also part of a sustainable development approach with decarbonization measures. This cooperation demonstrates the strength of relations between Algeria and Saudi Arabia and confirms the energy sector's attractiveness for strategic investors.