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The head of Sonatrach has been suspended from his position and placed under judicial control after the discovery of contract irregularities at the state-owned Algerian energy company.
Media sources in Algeria have reported that Mohamed Meziane, who has been the CEO of Sonatrach since 2003, has been instructed to stay in Algeria until an investigation into the allegations has been completed.
Abdelhafid Feghouli, vice president for the oil and gas company’s downstream division, has been named interim CEO.
Sources in the North African state said that a total of 10 senior Sonatrach officials are under investigation and the charges stem from the discovery of a number of contract awards contractors that contain irregularities.
“The investigation has a relation with the way of signing the contracts, which should conform to the M15 of the new hydrocarbon law,” said the a source close to the case. “But they didn’t follow it,” he added.
Sources also said that Chawki Rahal, Sonatrach’s vice president for marketing was also placed under judicial control, while Boumediene Belkacem, vice president of Sonatrach’s upstream division, and Benamar Zenasni, vice president for transport and pipelines, have been jailed.
Both Sonatrach and Meziane were unavailable for comment.
