Eni on Wednesday announced that it has
agreed to acquire BP business in Algeria, including the two
gas-producing concessions "In Amenas" and "In Salah" (45.89% and
33.15% working interest respectively).
The "In Amenas" and "In Salah" assets, which are jointly
operated with Sonatrach and Equinor, are located in the Southern
Sahara and their production of gas and associated liquids began
in 2006 and 2004 respectively. In 2021 they produced
approximately 11 billion m3 of gas, 12 million barrels of
condensates and LPG.
This acquisition, Eni said, has a great strategic value to
further contribute to Europe's gas needs and further strengthens
Eni's presence in Algeria, a major gas producer and a key
country in for Eni. Today's operation will allow Eni to increase
its portfolio of assets in the country and, jointly with the the
new contracts of Berkine South and Block 404/208 recently
signed, will allow new and synergic development opportunities,
mainly focused on increasing gas production.
The Italian fuels giant said that the acquisition is in line
with Eni's distinctive strategy to address the challenges of the
current energy market to deliver secure and sustainable energy
to customers, while accelerating the path to net-zero.
The transaction is subject to the approvals of the competent
authorities.
Eni has been present in Algeria since 1981. Following these
acquisitions and the development programs underway in the
Berkine basin, in 2023 Eni's production from Algeria will rise
to over 120,000 barrels of oil equivalent per day, further
confirming Eni as the main international energy company
operating in the country.
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