Gide assisted Med Investment Holding Spa, an investment company owned by the Kerrar family, in the conclusion of a partnership agreement with the Norwegian group Jotun A/S for the production of paint and coatings in Algeria. Production will be provided by a joint venture, Technover P. Med Investment has sold a stake in Technover P to Jotun. The joint venture Technover P will produce industrial paints and coatings in a new plant located in Tizi-Ouzou in the North of Algeria, meeting international standards and environmental norms.
Gide has assisted the Chinese group SINOPEC Overseas Oil & Gas Limited (SOOGL) in signing an oil sharing and production contract with the Algerian oil group SONATRACH for the Zarzaïtine oilfield located in the Illizi basin, south-east Algeria. The contract, worth a total investment of USD 490 million over a 25-year period, was signed by SONATRACH's Vice President of Exploration and Production, Mohamed Slimani, and SOOGL's General Manager, Wu Xiuli, during an official ceremony on 28 May.
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