Algeria: TotalEnergies Signed a New Production Sharing Contract with Sonatrach in the Berkine Basin
July 19 2022 - 6:02AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) signed today with
Sonatrach, Occidental and Eni an extension of its Production
Sharing Contract for a period of 25 years for onshore Blocks 404a
and 208 in the Berkine basin, in Eastern Algeria.
This contract, signed under the new Algerian Hydrocarbon Law
published in 2019, will allow to develop additional liquids
hydrocarbon resources, while reducing these fields carbon intensity
through a dedicated carbon reduction program. The opportunity to
develop and valorize associated gas resources will be studied by
the partners, thus increasing export potential towards Europe.
“This new contract on Berkine asset, under the Algerian new
Hydrocarbon Law, marks a new milestone in the strategic partnership
with Sonatrach. This project is in line with the Company’s strategy
to develop low-cost oil while contributing to carbon reduction
programs to minimize our carbon footprint”, commented Laurent
Vivier, Senior Vice President Middle East and North Africa,
Exploration & Production at TotalEnergies.
TotalEnergies in Algeria
TotalEnergies has been a historic player in the energy sector in
Algeria. The Company is active in oil and gas exploration and
production, as well as in liquefied natural gas through supply
contracts with Sonatrach. The Company is also active in the
marketing of lubricants and bitumens. In addition, TotalEnergies
and Sonatrach have launched engineering studies for a petrochemical
project in Western Algeria. In 2021, the Company's 51 000 boe/d
production in Algeria came from TotalEnergies' interests in the TFT
II and Timimoun gas fields and the oil fields in the Berkine basin
(Blocks 404a and 208).
***
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in more than 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
Twitter: @TotalEnergies LinkedIn: TotalEnergies Facebook:
TotalEnergies Instagram: TotalEnergies
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Registration Document, the French-language version of
which is filed by TotalEnergies SE with the French securities
regulator Autorité des Marchés Financiers (AMF), and in the Form
20-F filed with the United States Securities and Exchange
Commission (SEC).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220719005678/en/
TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l
presse@totalenergies.com l @TotalEnergiesPR Investor Relations: +33
(0)1 47 44 46 46 l ir@totalenergies.com
TotalEnergies (NYSE:TTE)
Historical Stock Chart
From Mar 2024 to Apr 2024
TotalEnergies (NYSE:TTE)
Historical Stock Chart
From Apr 2023 to Apr 2024