Eni will acquire BP’s business in Algeria, including two gas-producing concessions In Amenas and In Salah (45.89% and 33.15% working interest, respectively), the company said Sept. 7.
The In Amenas and In Salah assets in the southern Sahara are jointly operated with Sonatrach and Equinor. Production of gas and associated liquids began in 2006 and 2004, respectively. In 2021, they produced approximately 11 billion m3 of gas, and 12 MMbbl of condensates and LPG.
The acquisition further strengthens Eni’s presence in Algeria, where it has operated since 1981. The deal will allow Eni to increase its portfolio of assets in the country and, jointly with the new contracts of Berkine South and Block 404/208, allow new and synergic development opportunities, mainly focused on increasing gas production.
The acquisition is in line with Eni’s strategy to address the challenges of the current energy market while accelerating the path to net-zero.
Following these acquisitions and the development programs in the Berkine basin, Eni’s 2023 production from Algeria will surpass 120,000 boe/d.
Recommended Reading
Exclusive: Arjun Murti Talks Energy Transition, the Role of Oil, Gas in Meeting Energy Needs
2024-02-16 - Partner at Veriten Arjun Murti gives his perspective on global energy needs and addresses EV adoption in the U.S. in this Hart Energy LIVE Exclusive interview.
Exclusive: TES CEO Sees Electric Natural Gas as a Trillion Dollar Market
2024-03-26 - Marco Alverà, the co-founder and CEO of TES, details how electric natural gas from green hydrogen is a cheaper and easier to produce fuel and shares insight on its e-NG partnership with TotalEnergies, in this Hart Energy Exclusive.
Schneider Electric’s Heather Cykoski: Infused AI is Everywhere
2024-04-09 - Schneider Electric puts sensors in the technology it provides customers, creating the ability to gather data, predict operations and drive efficiency.
Amid Climate Scaremongering, Energy Execs Urge Engagement, Realism
2024-02-06 - From shale boom to net zero goals, industry experts grappled with the contradictions facing the energy industry during SPE’s Hydraulic Fracturing Technology Conference.
‘Growth Story’ for Oil: Rice's Kenneth Medlock on Demand Trends
2024-03-05 - Economics drive oil demand, not politics, Rice University’s Kenneth Medlock said during the International Drilling Conference and Exhibition in Galveston.