TotalEnergies and SONATRACH have signed a Memorandum of Understanding to conclude an oil and gas contract in the north-east Timimoun region, under the aegis of Law n°19-13 governing oil and gas activities.
Algeria’s state-owned national oil company (NOC) Sonatrach reported the discovery of ten new oil and gas deposits in the first half of 2023. Sonatrach is currently conducting a full evaluation of the profitability of the discoveries, with conclusions expected by the end of the current year.
Italian oil and gas firm Eni signed a new Production Sharing Contract (PSC) agreement with SONATRACH, Oxy and TotalEnergies for oil blocks 404 and 208 in Algeria.