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Sunday, July 22, 2018
The chairman of the Algerian state company Sonatrach, AbdelmoumemOuldKaddour, and the CEO of ENI, Claudio Descalzi, signed an agreement that represents a further step towards the strengthening of their partnership in the BerkineBasin. In combination with the existing assets of BRN (block 403) and MLE (block 405b), the aim is to create a gas hub in the area.
The agreement, which is part of the Framework Agreement signed last April at the “Technical Scientific Days” event in Oran, aims to develop an ambitious program to relaunch exploration and development in the area, by optimizing existing infrastructures and putting them in synergy with the ones newly built: a 180 km line that will quickly connect BRN with MLE’s assets, transforming it into the Berkine basin’s main gas hub.
ENI and Sonatrach also agreed the commercial conditions for the 2018-19 fiscal year, in line with the gas market. Additionally, as part of a strengthening of their cooperation and partnership, the two companies have agreed to begin a negotiation to look into extending the gas supply beyond the contractual deadline of 2019.
Descalzi, commented: “This is a further step forward in the strategic expansion of our upstream activities in Algeria and in Eni’s renegotiation of long-term gas supply contracts. It also demonstrates a strong spirit of collaboration between Sonatrach and ENI, from exploration to the development of new projects in gas and renewable energy.”
The two firms also agreed to further strengthen their cooperation in petrochemical, renewables, and offshore projects in Algeria and in other international cooperation opportunities.
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