Algeria Secures $5.4 Billion Oil and Gas Deal with Saudi Midad Energy

OilPrice · Tsvetana Paraskova · last updated October 13, 2025 – 6:11 AM

Algerian state oil and gas firm Sonatrach has signed a $5.4-billion exploration and production agreement with Saudi Arabian firm Midad Energy, Algerian news outlet Ennahar TV reported on Monday, citing a statement from Sonatrach. The 30-year contract in the form of a production sharing agreement is for exploration and production in the Illizi Basin in eastern Algeria. The contract can be extended by another 10 years. The deal between Sonatrach and the Saudi firm includes an exploration period of up to seven years and total investments…

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