- BUSINESS MEETINGS AND AGREEMENTS
- NATURAL RESOURCES
Algiers (Algeria), 21 June 2016 – The Minister of Energy, Noureddine Bouterfa, and the Chairman and CEO of the Algerian State Oil & Gas Company Sonatrach, Amine Mazouzi, today met with Eni CEO, Claudio Descalzi, in Algiers. This latest meeting between the parties follows previous engagements in November 2015 and April 2016.
During the meeting, Claudio Descalzi and Amine Mazouzi signed an agreement propaedeutic to the extension of the production licenses for the ROD reservoir, its satellite fields and three fields in Block 403. These are considered to be particularly important assets as their discovery led to the establishment in 1995 of the first Groupement Sonatrach Agip in Algeria (GSA) and marked the start of a strong partnership between Eni and Sonatrach.
The renewal of the partnership between Eni and Sonatrach, enshrined in today's agreement, will bring about an ambitious programme of activities that will include advanced techniques for hydrocarbon recovery. The agreement also lays the foundations for the completion of the unitisation process between the SF field, where Sonatrach has a 100% stake, and the SFNE field, which is jointly operated by Eni and Sonatrach.
With this visit, Eni CEO Claudio Descalzi has renewed the hope of a cooperation ever more fruitful either by re-launching gas development activities in existing concessions in the Country and by embarking on new renewable energy activities. The aim is to further strengthen the partnership between Italy and Algeria and between Eni and Sonatrach by a development model capable of enhancing the existing facilities of Eni and Sonatrach in Algeria.
Eni has been present in Algeria since 1981 and now participates in 32 mining permits. In the period between 2010 and 2015, the company invested $11.5bn in the development of hydrocarbons in Algeria, which represented approximately 26% of the total investment made by all international companies operating in the country. Eni's production in the country currently amounts to more than 100,000 barrels of oil equivalent per day.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
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Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
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Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
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