ALGIERS, Sept. 23 (Xinhua) -- Algerian energy giant Sonatrach on Monday urged drafting a new hydrocarbons law to boost its output through striking more partnerships with foreign companies.
"It is more than ever necessary and urgent to enact a new hydrocarbons law adapted to international context, while enhancing Algeria's competitiveness advantage," Sonatrach said in a statement.
The state-run group said "hydrocarbons output in partnership represents a quart some 15 percent of the national production compared to about 33 percent in 2007."
This decline would likely be prolonged within the current hydrocarbons law, it added.
Sonatrach's call has been echoed by the government, which announced later on Monday that a draft law on hydrocarbons is under examination ahead of being approved in the forthcoming cabinet meeting.
The draft law, according to a statement by the cabinet, would bridge the gaps and mend the failures of the current law, enacted in 2005 and amended in 2013.
In May, Energy Minister Mohamed Arkab announced that the draft law on hydrocarbons was completed and awaited approval by competent authorities.
