The President of Algeria, Abdelmadjid Tebboune, met in Algiers with the CEO of Eni, Claudio Descalzi, to consolidate energy links between the Maghreb country and Italy. The meeting was attended by senior representatives of the energy sector, including the directors of Sonatrach and Sonelgaz, as well as the Algerian Minister of Energy and Mines.
During the visit, Eni and Sonatrach signed a 30-year production sharing contract for the Zemoul El Kbar perimeter, a strategic area located 300 kilometers southeast of Hassi Messaoud. This agreement is in line with Law 19-13, which regulates hydrocarbon activities. hydrocarbon activities activities in the country and covers an area of 4,200 km² that now integrates several blocks previously managed separately.
Energy cooperation strengthened following new gas agreement
[post_relacionado]The contract, valued at US$1.35 billion, provides for joint exploration and development operations with a focus on optimizing resource recovery. Innovative technologies will be used to maximize operational efficiency by leveraging existing infrastructure in the region.
This understanding is also linked to the recent award of the Reggane II block to Eni and PTTEP in Algeria’s 2024 bidding round, consolidating the Italian firm’s expansion in the African country.
Gas, exports and energy of the future
In addition to the signing, the authorities discussed joint projects for the production and export of natural gas. natural gas and LNG to Europe, as well as initiatives related to green hydrogen, renewable energies and the development of an electricity interconnector between Algeria and the European continent.
With a continuous continuous presence in Algeria since 1981 and a current production of 137,000 barrels of oil equivalent per day, the Italian company is consolidating its position as the country’s most important international operator, reinforcing its role in Mediterranean energy security and the transition to sustainable sources.
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Source and photo: Eni