Eni signs contract for onshore Algerian blocks

Eni SPA signed a new production sharing contract (PSC) with SONATRACH, Occidental Petroleum Corp., and TotalEnergies SE for Blocks 404 and 208 in Berkine basin, eastern Algeria.

The contract will allow partners to boost investments, increasing the fields’ hydrocarbons reserves while extending their production life by 25 years, Eni said in a release July 19.

The agreed plan also will include technologies to improve the reserves recovery factor and reduce CO₂ emissions through energy efficiency and decarbonizations projects, the company said. Details were not provided.