Versalis partners with Sonatrach for possible petrochem complex in Algeria

Versalis, a petrochemical company wholly owned and controlled by Italian multinational oil and gas company Eni SpA, has agreed to partner with Algerian state-owned oil company Sonatrach to conduct feasibility studies for an integrated petrochemical complex to be built in Algeria.

The two companies recently signed a Memorandum of Understanding for this new partnership following their cooperation agreement last November. The new agreement provides for the terms of a study aiming at enhancing hydrocarbons with value added petrochemical products through the development of one or a few world-scale industrial petrochemical facilities in Algeria.

The agreement represents an opportunity for Versalis to collaborate with an integrated oil corporation, to which the Italian chemical producer will offer its industrial experience in managing large petrochemical plants, and the access to its proprietary technologies, within the framework of strategic joint projects.