Oman Investment Authority seals preliminary investment pact with Algeria
Deal News | May 06, 2025 | Zawya
The Oman Investment Authority (OIA) has signed a preliminary agreement with Algeria's Finance Ministry to establish a $298.79 million investment fund. This fund will concentrate on mining, food security, and pharmaceutical sectors. The signing occurred during Oman's Sultan Haitham bin Tariq al-Said's official visit to Algeria. Additionally, a term sheet was signed between Algeria's Sonatrach and Oman's Abraj Energy Services, to explore a joint venture focused on oil services in the Algerian market. The joint venture aims to concentrate on drilling, well services, and integrated project management. This preliminary agreement outlines crucial technical, legal, economic, and commercial terms for the potential partnership.
Sectors
- Investment Management
- Mining, Food Security, and Pharmaceuticals
- Oil and Gas Services
Geography
- Oman – The Oman Investment Authority, a key player in the article, is based in Oman.
- Algeria – Algeria's Finance Ministry is signing the agreement, and the joint venture involving oil services will take place in Algeria.
Industry
- Investment Management – The article specifies the establishment of an investment fund managed by the Oman Investment Authority.
- Mining, Food Security, and Pharmaceuticals – The new investment fund will focus its investments in these industries, highlighting their strategic importance.
- Oil and Gas Services – Mention of a potential joint venture between Sonatrach and Abraj Energy Services to set up oil services in Algeria.
Financials
- 115 million Omani riyals ($298.79 million) – The agreed value of the preliminary investment fund between Oman and Algeria.
- 0.3849 Omani rials – Exchange rate for Omani riyals in relation to USD.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Oman Investment Authority | Investor | Company | Oman's sovereign wealth fund engaging in a preliminary agreement to establish an investment fund. |
| Finance Ministry of Algeria | Co-Investor | Government | Algerian governmental body entering a preliminary agreement with OIA for the investment fund. |
| Sultan Haitham bin Tariq al-Said | Dignitary | Government | The Sultan of Oman whose visit coincided with the signing of these agreements. |
| Sonatrach | Joint Venture Partner | Company | State-owned oil and gas company of Algeria partnering with Abraj Energy Services. |
| Abraj Energy Services | Joint Venture Partner | Company | Omani oil and gas drilling services firm exploring a joint venture with Sonatrach in Algeria. |