ALGIERS, May 1 (Xinhua) -- Algerian state-run energy company Sonatrach on Wednesday announced its plan to strengthen partnership with foreign firms in a bid to improve onshore and offshore output capabilities.
The announcement was made by Sonatrach's new CEO Rachid Hachichi, who was appointed on April 23, during his address to the company's workers on the occasion of International Workers' Day.
"Our group will continue to develop its partnership relations with international companies wishing to invest in Algeria," Hachichi said.
The company "will continue to work to strengthen partnership relations based on mutual respect in order to improve hydrocarbon discovery and exploitation capabilities," he added.
With the depletion of its deposits in operation for decades, Algeria wants to revamp its production capacity by resorting to exploring offshore and shale gas fields.
Hydrocarbon exports account for 95 percent of the North African nation's revenues.
