Algerian state energy firm Sonatrach on May 17 signed a memorandum of understanding with Norwegian oil and gas company Equinor to boost cooperation in oil E&P, Sonatrach said.

As well as the main agreement, which covers activities in Algeria and elsewhere, the document also includes a partnership on new technologies and environmental protection, according to a statement.

No financial details of the deal were disclosed.

OPEC member Algeria early last year approved a new energy law offering incentives to foreign companies with the aim of attracting investors who had stayed away in previous years due to a perceived unattractive business climate.