Eni, and Sonatrach have signed an upstream agreement to relaunch exploration and development (E&D) activities in the Berkine basin and to establish an oil and gas development hub through a synergy with existing MLE-CAFC installations, Eni stated in a statement on its website.
According to the statement, this agreement is part of the new hydrocarbon contract finalization process in the basin and it is planned to be signed under the support of the new Algerian oil law which came into force in December 2019.
Both parties have signed other agreements in fields of research and developments and a memorandum of understanding (MoU) to develop new technologies with focus on renewable energy and biofuels and hydrogen sectors to support a low carbon future.
Additionally, Eni and Sonatrach managed to agree on collaboration in sectors such as staff training through Eni Corporate University, and the Institut Algerien du Petrole to implement training programs in the upstream and new technologies related to the energy transition fields.
Claudio Descalzi, Eni CEO were satisfied with such series of agreements and said: “Today’s agreements represent the commitment made by our companies to strengthen a historic partnership, in compliance with a shared strategy to accelerate the development of decarbonization projects as part of our commitment of achieving our carbon neutrality goal.”