Executives of Italy’s Eni SPA, France’ Total SA, and Algeria’s Sonatrach have signed two agreements that include an exclusive partnership for exploration offshore Algeria in a virtually unexplored geological province.
Eni and Total also will pursue obtaining exploration permits that will allow for the completion of the hydrocarbon potential assessment, the companies said.
Eni Chief Executive Officer Claudio Descalzi said, “Together with Sonatrach and Total, we will have the opportunity to explore the deep waters of the Algerian offshore, a virtually unexplored geological province where Eni will be able to contribute by leveraging its experience in the Eastern Mediterranean and its inventory of advanced exploration technologies.”
Eni has been present in Algeria since 1981 and currently participates in 32 mining permits with an equity production in the country of 90,000 boe/d.