Italy’s Eni SpA and Algeria’s Sonatrach SpA have signed a memorandum of understanding (MoU) to strengthen collaboration in hydrocarbons and renewable energy.
“Eni and Sonatrach undertake to consolidate cooperation for the enhancement of Algerian energy resources through new contracts aimed at encouraging an increase in gas production, and the extension of gas supply contracts for export to Italy”, Eni said in a statement online.
“In addition, the two companies will strengthen collaboration in the field of renewable energy and energy transition, namely through the definition of new initiatives”.
The MoU was signed during the Italy-Algeria intergovernmental summit in the presence of Algerian President Abdelmadjid Tebboune and Italian Prime Minister Giorgia Meloni.
“This protocol follows the recent signing between Eni and Sonatrach of the agreement of the Zemoul El Kbar area and the allocation of the Reggane II area, which together with the initiatives covered by the protocol will contribute to increasing gas production up to 5.5 billion cubic meters per year by 2028, with total investments of more than $8 billion”, Eni said.
“With an equity production of about 137,000 barrels of oil equivalent per day in 2024, Eni stands as the most important international company operating in the country [Algeria]”, it added.
Sonatrach said in a press release July 21 that under the 2024 bidding round, Reggane II in the province of Adrar has been awarded to Sonatrach, Eni and Thailand’s PTT Exploration and Production Public Co. Ltd.
Sonatrach announced four other awards. Ahara in the province of Illizi was signed with QatarEnergy and TotalEnergies SE. Guern El Guessa II in the provinces of Bechar, Beni Abbes, El Bayadh and Timimoun was signed with China Petroleum and Chemical Corp. Toual II in the provinces of Ouargla and Illizi was signed with Austria’s Zangas Hoch- und Tiefbau GmbH and Switzerland’s Filada AG. Zerafa II in the provinces of Adrar, El Menia, In Salah and Timimoun was signed with China’s Zhongman Petroleum and Natural Gas Group Corp. Ltd.
On July 7 Eni and Sonatrach announced an agreement to explore and develop Zemoul El Kbar in the Berkine Basin some 300 kilometers southeast of Hassi Messaoud, Ouargla.
The license, covering 4,200 square kilometers (1,621.63 square miles), lasts 30 years with an allowable extension of 10 years, according to separate statements by the companies. Eni and Sonatrach plan to invest $1.35 billion in Zemoul El Kbar.
The Zemoul El Kbar license includes neighboring assets previously under separate contracts.
“With this renewed framework, Eni and Sonatrach are further enhancing the value of the asset through a plan encompassing exploration and development operations, leveraging innovative technologies to optimize recovery rates and existing nearby facilities”, Eni said of Zemoul El Kbar.
To contact the author, email jov.onsat@rigzone.com
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