Eni has agreed to acquire bp's upstream business in Algeria, including the two gas-producing concessions 'In Amenas' and 'In Salah' (45.89% and 33.15% working interest respectively)
The In Salah Gas joint venture has developed seven gas fields in the Southern Sahara, approx. 1,200 kms south of Algiers. Production began in 2004 with a second phase starting up in 2016. The In Amenas joint venture produces gas and natural gas liquids from the Illizi basin in south-eastern Algeria, with first production coming in 2006. Both assets are jointly operated with Sonatrach and Equinor. In 2021 they produced around 11bn cubic metres of gas, 12mn barrels of condensates and LPG.
This acquisition has a great strategic value to further contribute to Europe’s gas needs and further strengthens Eni's presence in Algeria, a major gas producer and a key country for Eni. The acquisition will allow Eni to increase its portfolio of assets in the country and, jointly with the the new contracts of Berkine South and Block 404/208 recently signed, will allow new and synergic development opportunities, mainly focused on increasing gas production.
The acquisition is in line with Eni’s distinctive strategy to address the challenges of the current energy market to deliver secure and sustainable energy to customers, while accelerating the path to net-zero.
Eni has been present in Algeria since 1981. Following these acquisitions and the development programs underway in the Berkine basin, Eni's production from Algeria will rise to over 120,000 barrels of oil equivalent per day in 2023, further confirming Eni as the main international energy company operating in the country.
Anja-Isabel Dotzenrath, bp’s executive vice president, gas & low carbon energy, said, “bp has worked successfully with Algeria and our partners for over almost 30 years, developing and supporting operations on two major gas projects for the country. We believe this agreement represents a good outcome for bp and Eni and for Algeria.”