Algeria’s Sonatrach and Italian oil major Eni on Dec. 10 signed a memorandum of understanding to boost their E&P partnership in the key Berkine Basin, the North African country’s state-owned firm said.
Algeria, an OPEC member and a major gas supplier to Europe, last year approved a new energy law aimed at improving its investment climate after a fall in output and exports.
The memorandum “aims to draw a roadmap that defines the steps to be followed in order to conclude one or more contracts ... under the new legal framework,” Sonatrach said in a statement.
The document was signed in Algiers by Sonatrach chief Toufik Hakkar and Eni CEO Claudio Descalzi who “affirmed their commitment to implementing an ambitious program to enhance exploration, development and production activities in the Berkine basin,” the statement said.
Hakkar and Descalzi discussed other issues including training in activities such as oil and gas, development, new energies and energy transition, it added.
Eni is the main foreign oil and gas player in Algeria, where it has been operating since 1981.
Recommended Reading
VTX Energy Quickly Ramps to 42,000 bbl/d in Southern Delaware Basin
2024-09-24 - VTX Energy’s founder was previously among the leadership that built and sold an adjacent southern Delaware operator, Brigham Resources, for $2.6 billion.
Hot Permian Pie: Birch’s Scorching New Dean Wells in Dawson County
2024-10-15 - Birch Resources is continuing its big-oil-well streak in the Dean formation in southern Dawson County with two new wells IP’ing up to 2,768 bbl/d.
Coterra Takes Harkey Sand ‘Row’ Show on the Road
2024-11-20 - With success to date in Harkey sandstone overlying the Wolfcamp, the company aims to make mega-DSUs in New Mexico with the 49,000-net-acre bolt-on of adjacent sections.
Now, the Uinta: Drillers are Taking Utah’s Oily Stacked Pay Horizontal, at Last
2024-10-04 - Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
Matador’s U-lateral Delaware Tests Outproduce 2-mile Straight Holes
2024-10-30 - Matador Resources' results from eight Loving County, Texas, tests include two 2-mile U-turn laterals, five 2-mile straight laterals and one 1-mile straight lateral, according to state data.