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Eni Asa and Sonatrach, Algeria’s state-owned oil company, inked a strategic agreement on Jan. 23 to reduce greenhouse gas and methane emissions and develop a number of green initiatives, the companies said in a press release.
Eni CEO Claudio Descalz and Sonatrach CEO Toufik Hakkar signed a pair of agreements in Algiers outlining future joint projects on energy supply, energy transition and decarbonization.
Through these agreements, Eni and Sonatrach said they will identify opportunities for the reduction of emissions, define energy efficiency initiatives, renewable energy developments, green hydrogen projects and CO2 capture and storage projects. The goal, they said, is to support energy security and establish a sustainable energy transition.
In addition, the companies will conduct studies to identify possible measures to improve Algeria's energy export capacity to Europe.
“These agreements bear witness to our commitment to ensuring Italy's security of supply while at the same time pursuing our decarbonization objectives,” Descalzi said. “The partnership between Italy and Algeria gets stronger today, and Algeria's key role as one of Europe's main energy suppliers is confirmed.”
Eni has conducted operations in Algeria since 1981. The company annual produces 20 MMbbl of oil and condensates and 60 Bcf of natural gas, or about 31 MMboe per year. With an equity production of 100,000 boe/d of, Eni said it is the main international company in the country.
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