The Strategist

Eni to buy BP’s Algerian assets

09/08/2022 - 07:33

The Italian energy company's press service reports that Eni plans to acquire BP's operations in Algeria.

Petar Milošević
Petar Milošević
According to the press release, "Eni announces that it has agreed to acquire BP's business in Algeria, which includes two gas production concessions, In Amenas and In Salah (direct shareholdings of 45.89% and 33.15%, respectively)".

Eni has been operating in Algeria since 1981. Production by the corporation in the nation is anticipated to increase to more than 120 000 barrels of oil equivalent per day.

The business emphasized that the Southern Sahara is the location of the In Amenas and In Salah assets, which are jointly operated by Sonatrach and Equinor. Eni recalled that their gas and condensate production started in 2006 and 2004, respectively.