Total Signs 25-Year Algeria Gas Field Concession Extension
Total has signed a concession agreement with Algerian state-owned Sonatrach, Repsol, and Alnaft for a 25-year licence extension for the Tin Fouye Tabankort (TFT) gas and condensate field.
Total has signed a concession agreement with Algerian state-owned Sonatrach, Repsol, and Alnaft for a 25-year licence extension for the Tin Fouye Tabankort (TFT) gas and condensate field.
Algerian national oil company Sonatrach attended a meeting held by Russian oil transportation company Transneft Diascan to discuss improvements to Algeria’s oil infrastructure.
Algerian state-run energy company Sonatrach is making acquisitions to increase its petrochemicals business with the view of reducing the north African country's fuel imports and boosting revenue.
Total, Algerian state-owned Sonatrach, and Cespa have started production from the Timimoun natural gas project in Wilaya de Adrar in southwestern Algeria.
Anadarko, Total, Eni, and Statoil are interested in joining the Algerian state oil company Sonatrach to develop offshore drilling in the North African country.
Algeria plans to pass a new energy law that offers tax incentives to attract investment and is in discussion with foreign firms such as BP and Anadarko regarding its shale gas reserves.
About 11.5 million tons of fuel are currently refined in Algeria; however, annual consumption reached 15 million tons in 2017.
Vitol would receive around 2 million barrels per month of Algeria’s light crude oil and would send it back as gasoline and gasoil until the end of 2018.
Algerian state-owned energy firm Sonatrach is considering possible investments in oil exploration and natural gas projects in Iraq, Iraqi Oil Ministry announced on January 7th.
Production has begun at Algeria’s Reggane Nord natural gas field.