Mauritania, Algeria Sign Two Memoranda of Understanding, Agreement Protocol in Fields of Energy, Mines
On 7 June in Nouakchott, Mauritania and Algeria signed two memoranda of understanding and an agreement protocol in the fields of energy and mines.
The first memorandum of understanding relating to cooperation in the field of energy and mines was signed by Mr. Abdesselam Ould Mohamed Saleh, the Minister of Oil, Mines, and Energy, and his Algerian counterpart, Mr. Mohamed Arghab, while the second was signed by the managing director of the Mauritanian hydrocarbons company and the executive director of the Algerian company SONATRACH.
The agreement protocol between the Mauritanian agency for geological research and mining heritage and the Algerian office for geological and mining research was signed by the directors of these two institutions.
The memoranda of understanding aim to promote cooperative relations between the two brotherly countries in the fields of mining and energy and to supply the Mauritanian market with hydrocarbons and butane gas according to world market conditions. This supply will be through pipelines linking the two countries.
The two countries discussed the rehabilitation and extension of oil storage capacities in Mauritania, the promotion of the input industry, and the exchange of information in the field of refining and transformation of hydrocarbons.
Mr. Ould Mohamed Saleh indicated that the enormous geo-mining potential of the two countries creates opportunities for investment, exchange of expertise, and technical support to develop this potential according to the roadmap established by the National Mining and Industrial Company SNIM), adding that the agreement providing for the supply of the Algerian market with one million tons/year of iron concentrate constitutes a start to be redoubled soon to develop cooperation between the two countries.
He further affirmed that the technical teams have prepared a plan aimed at accelerating the implementation of priority projects by defining the desired objectives, stressing that in the short term, efforts will focus on the establishment of a joint prospecting program at the level of the two common sedimentary basins of Tindouf (Algeria) and Taoudenni (Mauritania).
For his part, the Algerian Minister of Energy and Mines insisted on the importance of these agreements, adding that they will make it possible to boost and diversify the fruitful cooperative relationship between the two brotherly countries.
Finally, he revealed that an implementation schedule for the projects signed between the two countries has been agreed upon, and that a follow-up will be provided to meet the deadlines.