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Updated: 19-Jul-22 06:29 ET

E: Eni S.p.A. signs a new contract on blocks 404-208 in Algeria (22.23)

Eni signed today with SONATRACH, Oxy and TotalEnergies a new PSC for blocks 404 and 208 in Algeria. These blocks are located onshore in the prolific Berkine basin, in Eastern Algeria, an area where Eni has been present since the 80s.
The contract, signed under Algeria's new hydrocarbon law of 2019, will allow the partners to boost investments, increasing the fields' hydrocarbons reserves while extending their production life for further 25 years. Furthermore, it will also enable future valorisation of significant quantities of associated gas which might become available for export, contributing to the diversification of gas supplies to Europe.