Total, Repsol, Sonatrach Sign 25-Year Extension for Algeria's TFT Gas Field
June 11 2018 - 7:14AM
Dow Jones News
By Alberto Delclaux
Total SA (FP.FR), Repsol SA (REP.MC) and Sonatrach have signed a
25-year extension to exploit the Tin Fouye Tabankort gas field in
Algeria, the French oil major said Monday.
France's Total will have a 26.4% interest in the field, while
Sonatrach will have 51% and Repsol 22.6%. The three partners will
carry out investments to develop additional reserves estimated at
more than 250 million barrels of oil equivalent, according to
Total.
"These investments will allow to maintain the production of the
field, which is currently over 80,000 barrels of oil equivalent per
day for 6 years," Total said.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
June 11, 2018 06:59 ET (10:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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