Sonatrach and Eni Ink $1.35 Billion Hydrocarbon Deal
Algeria’s state-owned energy giant Sonatrach and its Italian partner Eni have formalized a significant hydrocarbon contract worth $1.35 billion. The agreement, signed on July 7th, focuses on production sharing for the exploration and exploitation of hydrocarbons within the Zemoul El Kbar contractual area. This area is situated in the Berkine basin, approximately 300 km east of Hassi Messaoud in southern Algeria.
Details of the Agreement
The contract, governed by Algerian hydrocarbon law n°19-13, spans a 30-year period with a potential extension of 10 years. It incorporates a research phase lasting seven years. The total planned investment for the exploration and exploitation of the Zemoul El Kbar area is estimated at $1.35 billion, with $110 million specifically allocated to research activities, according to a statement from Sonatrach. The work program associated with this hydrocarbon contract will utilize innovative technological processes, integrating the latest digital solutions related to exploitation.
This agreement underscores the continued investment and development within Algeria’s hydrocarbon sector, and the ongoing collaboration between Sonatrach and international partners like Eni. The project aims to leverage advanced technologies to maximize resource extraction and contribute to Algeria’s energy production capabilities.
Keywords
Related Keywords: Sonatrach Eni deal, Algeria Italy energy, 135 billion energy contract, Hydrocarbon agreement, Algeria energy, Eni Sonatrach, Oil and gas Algeria, Energy investment Algeria, Sonatrach contracts, Algeria Italy gas
