ENI and Sonatrach to Jointly Develop Solar Projects
December 18 2017 - 11:13AM
Dow Jones News
By Nathan Allen
Italy's ENI SpA (ENI.MI) said Monday that it has signed a
memorandum of understanding with Algeria's state-owned oil producer
Sonatrach (SON.YY) to jointly develop solar-energy sites.
The agreement lays out a framework for identifying areas within
Sonatrach's existing production sites to build solar projects, ENI
said in a press release.
The agreement also covers a process for jointly undertaking
feasibility studies and developing a business model to run the
plants, ENI added.
"Sonatrach wants to strengthen its partnership with ENI also in
the upstream, petrochemicals, R&D and marketing sectors," said
Sonatrach's Chairman and General Director Ould Kaddour.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
December 18, 2017 10:58 ET (15:58 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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