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Algeria: Sonatrach signs with Eni, Petroleum and Total an oil and gas “production sharing” contract for $USD 4 billion

Sonatrach signed on July 19 with Italy’s Eni, the U.S. Occidental Petroleum and France’s Total an oil and gas “production sharing” contract worth four billion dollars concerning a site in southeastern Algeria.
This 25-year contract concerns the exploitation of gas and oil deposits in the Berkine basin.
The French energy group is thus regaining a foothold in Algeria after having been rejected in May 2020 during a buyout of Algerian assets in favor of the American Occidental.

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