US EditionEni Signs $1.35 Billion Production Sharing Deal with Algeria's Sonatrach
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Eni signs $1.35 billion production sharing deal with Algeria's Sonatrach
Algeria’s state-owned oil company Sonatrach and Italy’s Eni have signed a 30-year production sharing contract to explore and develop the Zemoul El Kbar region of Algeria. The contract is estimated at a value of $1.35 billion, Sonatrach said in a statement Monday.
Algeria and Italy strengthen their energy partnership with the signing, in Algiers, of an important production-sharing contract between Sonatrach and the Italian group ENI. Concluded under Algerian Law 19-13 on hydrocarbons, this agreement concerns the exploration and exploitation of deposits located in the Berkine basin, at about...
The partnership between Algeria and the Italian energy group Eni takes on a new dimension with the expansion of its investments in the Algerian energy sector. During its meeting with President Abdelmadjid Tebboune, Claudio Descalzi, the CEO of Eni, said that the group's investments in the country should exceed $8 billion in the coming years. These investments will focus not only on the traditional oil and gas sectors, but also on innovative init…
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