Eni renews development and production licence in Algeria

abarrelfullabarrelfull wrote on 23 Dec 2014 08:03

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3 October 2007

Eni and Sonatrach have signed an agreement to renew the development and production licence for the fields belonging to Block 403 (BRN, BRV and BRSW) located in Algeria , in the Bir Rebaa area, in the south-eastern part of the Saharan desert.

Production from the fields, which started in 1995 following the first agreement between Sonatrach and a foreign partner, averages approximately 23,000 boe/d (barrels of oil equivalent per day).

The renewal of this licence enables Eni to confirm its reserves and production capacity in Algeria of up to approximately 90,000 boe/d.

This agreement is further confirmation of Eni's close strategic partnership with Algeria 's Sonatrach. It also offers a new stimulus for further cooperation on projects which will be subject to specific agreements in line with the company's strategy to increase hydrocarbon exploration and production in Algeria .

Eni began operating in Algeria in the 1950s along two main lines: the procurement of natural gas, with the construction of a gas pipeline across the Mediterranean (Transmed) and the acquisition of exploration and development permits for gas and oil fields.

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