Algeria’s national oil company Sonatrach has appointed Amine Mazouzi as its new chief executive officer to replace interim CEO Said Sahnoun, Reuters reports.
An official ceremony to appoint Mazouzi is expected to take place on 31st of May, two industry sources told Reuters.
Mazouzi who previously served as manager at the company’s production development department will take the helm at a time when the North African country is looking to attract foreign investment to the oil and gas sector at home and develop its reserves.
The future chief executive has been described as the son of a well-respected war veteran in Algeria and “an experienced Sonatrach hand”.
The firm has had five chief executives in five years, with the tenure of its most recent CEO lasting less than a year.
The news of Mazouzi’s appointment came days after President Abdelaziz Bouteflika named new energy and finance ministers in a cabinet reshuffle, Reuters reported.
