Chinese Oil Firms Show Interest in Algerian Market
Chinese oil and gas enterprises show great interest in investing in Algeria at the just-concluded North Africa Petroleum Exhibition & Conference (NAPEC).
As many as 40 Chinese companies took part in this year's event, said Zoe Zuo, general manager of Beijing CEW International Fair as well as director of the China pavilion in NAPEC.
The exhibition conference was held in Oran, 400 km west of Algiers, from March 25 to 28.
The organizer of the event, Yacini Jaafar, said: "Our Chinese partner CEW brought 37 Chinese companies. The Chinese presence is the largest after France, and more Chinese companies show great interest in investing in Algeria."
Yacini said "Algeria is an attractive country, and Chinese companies have started to understand how things work here."
In addition, "Chinese firms are competitive in the oil and gas field, and enjoy some experience in Algeria," Yacini added.
Xinmi Wanli Industry Development, a Chinese company specializing in petrochemical products, participated in NAPEC for the first time this year.
Its Middle East and North Africa regional manager, Jacky Zheng, said the company has made several contacts with other exhibitors and wishes to get final contracts.
"You know, in the oil and gas field, it takes a lot of patience. We have established contacts and we hope to achieve good business in the future in this north African country," Zheng said.
"Algeria is committed to voicing the unconventional and Xinmi Wanli is ready to offer its expertise," he said.
The pipelines manufacturing firm Fengbao Industry, the third largest of its kind in China, has already established trade ties with Algerian energy group Sonatrach, its business manager Sunny Zhou said.
NAPEC is the largest international Oil and Gas Exhibition and Conference in Africa, dedicated to hydrocarbon and energy professionals including technology and service providers.
This year's event was attended by 170 foreign companies from 40 countries, including energy giants such as Total, Repsol, Statoil, Cepsa, Anadarko, Schlumberger, Etap and Noc.