Edison Sells Stake in Algeria’s Reggane Nord

Monday, October 16, 2023

Italian firm Edison has announced that following the approval by Algerian authorities, it has completed the sale of its 11.25% stake in the Reggane Nord license to Repsol and Wintershall Dea.

The sale is broken down with Repsol taking 6.75% and Wintershall Dea 4.50%. The Reggane Nord field produces natural gas and the full offtaker is Sonatrach under a long-term contract basis.

Edison states that the value of the transaction is confirmed to be approximately $100 million (as of the reference date of 1/1/2022), and all other terms and conditions remain unchanged from the original agreement dates of May 4 and June 29, 2022.

Image credit: Wintershall Dea

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