Kenya: Kenya and Algeria today signed a Memorandum of Understanding (MoU) to enhance cooperation in the oil, gas and power sector for the benefit of the people of the two countries.
President Uhuru Kenyatta and Algerian Prime Minister Abdelmalek Sellal witnessed the signing of the MoU by Kenyan Foreign Affairs Cabinet Secretary Amina Mohammed and her Algerian counterpart Mr. Ramtane Lamamra at the Presidential Palace in Algiers.
“As Kenya looks forward to commercial exploitation of its oil resources, we look forward to learning from Algeria’s expertise including the drawing up of appropriate legal instruments and capacity building to enable us to take charge of our hydrocarbon resources right from the onset,” CS Amina said after the signing.
She welcomed Algerian investors to explore opportunities for investment in the oil industry and to learn from Kenya’s experience in geothermal energy production.
The two countries’ co-operation will cover policy, legal and regulatory framework of the oil, gas and power sector. It will also focus on onshore and offshore exploration and production of hydrocarbons, development of petrochemical industries, refinery maintenance, domestic marketing, transport and distribution of petroleum products.
Kenya’s Ministry of Energy and Petroleum and Algeria’s Ministry of Energy will be charged with the implementation of the MoU.
Algeria has a well-developed hydrocarbons industry which is the backbone of its economy accounting for approximately 60% of budget revenues, 30% of GDP and over 95% of export earnings.
The North African country also has the 10th largest reserves of natural gas in the world and is the sixth largest gas exporter. It ranks 16th in oil reserves with a production of 1.875 million barrels a day.
President Kenyatta and Prime Minister Sellal also witnessed the signing of an agreement on visa exemption for holders of diplomatic passports.
The exemption of visas for holders of diplomatic passports is aimed at easing the movement of diplomatic representatives tasked with promoting bilateral relations between the two countries.
The MoU grants nationals of both countries holding valid diplomatic passports – not accredited in the territories of their respective countries – entry, transit and stay or leave the territory of the other party without visa within a period not exceeding 90 days from the date of the arrival.
Another MoU signed by the two countries was between the Institute of Diplomacy and International Relations of Algeria, and the Foreign Service Institute of Kenya.
Through this MoU, the two countries agreed to facilitate the exchange of information and content of their training programs on foreign policy, international relations, international law and international economic relations.
The two countries also agreed to fix the practical modes of the programs jointly, particularly in terms of financial cooperation.
President Kenyatta later met his host President Abdelaziz Bouteflika who formally received him in Algeria.
Stay informed. Subscribe to our newsletter
Earlier this morning, President Kenyatta held talks with the Speaker of the People’s National Assembly Mohamed Larbi Ould Khelifa and the country’s.
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
join