Eni to Take 49% Stake in Three Oil Concessions in Algeria
October 29 2018 - 6:06AM
Dow Jones News
By Alberto Delclaux
Eni SpA (ENI.MI) has reached an agreement with Algerian
state-owned Sonatrach to take a 49% stake in three oil concessions
in the North Berkine basin, the company said on Monday.
The reserves of the three blocks in Algeria are estimated at 145
million barrels of oil equivalent, Eni said. Production is expected
to start before the end of 2020, it added.
Sonatrach will keep a 51% stake in the concessions.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
October 29, 2018 05:51 ET (09:51 GMT)
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