Algeria's Sonatrach Pens MoU with Eni
Algerian national oil and gas firm Sonatrach has signed a memorandum of understanding (Mou) with Italy's Eni on concluding contracts for developing the Berkine basin, it said on December 10.
The MoU "aims to draw a roadmap that defines the steps to be followed in order to conclude one or more contracts ... under the new legal framework," Sonatrach said in a statement. The pair "affirmed their commitment to implementing an ambitious programme to enhance exploration, development and production activities in the Berkine basin," it said.
Eni has been working in Algeria since 1981, and already has a number of projects in the Berkine basin. Its main focus is exploiting gas in the Bir Rebaa desert.
Sonatrach has signed MoUs with many other foreign companies over the past year, including Chevron, ExxonMobil and Austria's OMV, on possible exploration and production projects. This push comes after the country passed a new hydrocarbon law last year that has helped generate interest in its upstream sector.