in Short
Algeria : Sonatrach signs with Eni, Petroleum and Total an oil and gas “production sharing” contract for $USD 4 billion
Sonatrach signed on July 19 with Italy’s Eni, the U.S. Occidental Petroleum and France’s Total an oil and gas « production sharing » contract worth four billion dollars concerning a site in southeastern Algeria.
This 25-year contract concerns the exploitation of gas and oil deposits in the Berkine basin.
The French energy group is thus regaining a foothold in Algeria after having been rejected in May 2020 during a buyout of Algerian assets in favor of the American Occidental.
