ExxonMobil is in talks with Algeria’s national state-owned oil company Sonatrach about oil and gas exploration opportunities.
On Tuesday, Mohamed Arkab, Algeria’s Minister for Energy said a deal is expected to be reached in the next few days.
Exxon and other American companies are expected to invest heavily in the North African country’s energy sector.
Sonatrach estimates Algeria’s oil production at 1 million barrels per day and its gas production at 106 billion cubic meters per year.
