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Tuesday, November 28, 2017
Sonatrach Takes Repsol Stake in Sud-Est Illizi
The Algerian government approved the amendment transferring Repsol’s share of the Sud-Est Illizi block to Sonatrach. The contract was signed in January 2010, between Alnaft, Sonatrach and the companies Enel, Repsol, and GDF Suez for the exploration and exploitation of hydrocarbons on the acreage.
Recently, Enel and GDF Suez withdrew from the block with Sonatrach taking their shares upon exit.
It should be noted that on the license, Sonatrach controlled 51%, Repsol (25.7%), Enel (13.5%), and GDF Suez 9.8%.
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