Sonatrach’s Deal With 3 International Companies To Boost Gas Supply To Italy
Energy and Mines Minister, Mohamed Arkab, oversaw, here on Tuesday, the signing of an important agreement worth $4 billion between Sonatrach and a number of its foreign partners.
The deal, as announced by the President of the Republic, Abdelmadjid Tebboune, on Monday evening, aims to supply Italy with big volumes of natural gas.
The agreement was signed between Sonatrach, Occidental and Total, in addition to Italy’s Eni, in the presence of the ambassadors of Italy, France, and the United States of America.
The agreement aims, according to a statement by Sonatrach, to complete a large gas project in the Berkine area in Hassi Messaoud, southern Algeria.
“The project will allow the recovery of an additional amount exceeding 1 billion barrels of oil, thus raising the average total recovery rate to 55%”, the statement explains.
The project includes drilling 100 oil wells and converting 46 wells into wells that rely on modern technology, which helps improve hydrocarbon production.
The project will also rely on “digital solutions” to manage its oil fields, in addition to resorting to environmental projects related to reducing the carbon footprint.
