Eni, Sonatrach Sign Agreements to Extend Partnership
April 17 2018 - 5:08AM
Dow Jones News
By Marc Bisbal Arias
Eni SpA (ENI.MI) said Tuesday that it has signed a series of
agreements with the Algerian state hydrocarbon company Sonatrach to
extend their partnership.
The oil-and-gas company said that the goal of the agreements is
to strengthen the integration between the companies in their joint
activities in Algeria. The goal will be achieved through synergies,
which will in turn lead to significant cost savings and improved
operational efficiency, Eni said.
"The launch of an ambitious exploration and development program
in the Berkine basin will be particularly important. It will lead
to the production of new gas reserves through the use and
optimization of existing infrastructures," it said.
Eni and Sonatrach have also agreed to continue collaborating in
their research and development efforts, Eni said.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
April 17, 2018 04:53 ET (08:53 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
ENI (NYSE:E)
Historical Stock Chart
From Jun 2024 to Jul 2024
ENI (NYSE:E)
Historical Stock Chart
From Jul 2023 to Jul 2024
