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Algeria Contracts

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June 10, 1991 | From Reuters
Algeria signed a five-year oil exploration contract Sunday with Los Angeles-based Occidental Petroleum Corp. Under the contract, the company will invest at least $32 million in prospecting for oil in 8,800 square miles near Hassi R'Mel in the Sahara, the Algerian state oil company Sonatrach said in a statement. The contract was signed while Algeria was under a state of siege after days of violent unrest involving Muslim fundamentalists demanding an Islamic state.
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BUSINESS
June 10, 1991 | From Reuters
Algeria signed a five-year oil exploration contract Sunday with Los Angeles-based Occidental Petroleum Corp. Under the contract, the company will invest at least $32 million in prospecting for oil in 8,800 square miles near Hassi R'Mel in the Sahara, the Algerian state oil company Sonatrach said in a statement. The contract was signed while Algeria was under a state of siege after days of violent unrest involving Muslim fundamentalists demanding an Islamic state.
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