TOTALENERGIES SE: Algeria: TotalEnergies Signed a New Production Sharing Contract with Sonatrach in the Berkine Basin
19 Juillet 2022 - 12:02PM
UK Regulatory
TIDMTTE
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.
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forward-looking information and statements that are based on a
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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).
TotalEnergies
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
l @TotalEnergiesPR
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SOURCE: TotalEnergies SE
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