The national oil company, Sonatrach announced Monday in a statement it signed with Suhail Bahwan Group of Oman an amendment to the Association Agreement regulating their joint venture Al-Djazaïria al-Omania Lil Asmida (AOA).
"Sonatrach and Omani Suhail Bahwan Group inked on Monday, September 8, 2014 in Algiers, an amendment to the Association Agreement regulating the joint venture Al-Djazairia Company Omania Lil Asmida (AOA)," Sonatrach said.
"This amendment to the Association Agreement is to revise certain provisions" relating to the partnership, added the same source.
Sonatrach did not specify, however, the amendments to the agreement signed in 2008 but stressed that they seek to "rebalance economic and operational interests of both parties."
Both groups "welcomed the agreement, which will give new impetus to their partnership in the field of fertilizers," the statement said.