Algeria's Sonatrach, Italy's Eni Sign USD 1.35 Bln Production Sharing Deal

2025-07-07 03:05:03

(MENAFN- Kuwait News Agency (KUNA)) ALGIERS, July 7 (KUNA) -- Algeria's state energy firm Sonatrach and Italy's Eni signed on Monday a USD 1.35 billion, 30-year production sharing deal for the Zemoul El Kbar site in the Berkine Basin.
A statement released by Sonatrach explained that the total investments allocated for exploration and development in this area are estimated at around USD 1.35 billion, including USD 110 million dedicated to the exploration phase.
It further clarified that the work program under this agreement involves the use of innovative technologies, including the latest digital solutions for field development, as well as modern techniques to enhance production and recover reserves.
The expected yield is up to 415 million barrels of oil, including 9.3 billion cubic meters of natural gas.
Additionally, the two companies signed a gas marketing agreement to define terms related to the export of dry gas from the Zemoul El kbar, as well as, a framework agreement between Sonatrach and Eni Corporate University to develop the skills of Sonatrach employees and transfer knowledge through a training institution over a period of three years. (end)
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