Egypt's PETROJET secured a $1.1 billion contract to develop Algeria's Hassi Bir Rkaiz oil field's second phase, building a 32,000-barrel-per-day processing plant and pipeline infrastructure, strengthening Egyptian competency in regional energy markets.
Algeria launched its 2026 licensing round offering seven exploration blocks across multiple regions, estimated to contain hundreds of millions of barrels of oil and significant natural gas reserves, aiming to attract foreign investment and bolster hydrocarbon production.
Egypt's EGPC and Algeria's Sonatrach signed a memorandum to establish crude oil imports, enhancing Egypt's energy security and supply chain sustainability while strengthening regional petroleum integration and bilateral strategic partnership.
Senior US State Department and military officials visited Algeria to strengthen bilateral security, economic, and energy cooperation while addressing counterterrorism and regional Sahel stability amid evolving transnational threats.