French Oil and Gas Upstream Urgent

New Strategic Contracts between SH and ENI

Sonatrach signed on the sidelines of the Algeria Future Energy summit in Algiers, with its Italian partner ENI, a transfer of interest in development contracts for some of the discoveries of the Berkine field.

The contracts concerned the research and exploration of the ZEMLET EL ARBI (ZEA), OURHOUD II (ORD II) and SIF FATIMA II (SFII) perimeters.

As a result, this agreement will transfer 49% of Sonatrach shares to the benefit of the Italian ENI on the three exploration perimeters zemlet el arbi, Sif fatima II and Ourhoud II, and will allow the parties to make the necessary investments for the valuation of reserves of gas and oil located on these perimeters.

The exploration program is estimated at more than 80 million dollars which includes, the drilling of 5 wells, the acquisition and the treatment of 2600 Km² 3D seismic.

The development work program is estimated at $ 1.1 billion.

This development program will achieve a cumulative production of 145 MMbbls equivalent including 13.7 MMm3 of dry gas and 34.7 Million Bbls.

CAPEX 1179.60 MM US $.

OPEX 626.84 MM US $.

As a reminder, on February 26, 2012 the contract for research, exploration and exploitation on the perimeter “OURHOUD II” between ALNAFT and SH.

The contractual scope of ZEMLET EL ARBI was awarded to HS on 28 JULY 2015.

The research, exploration and exploitation contract for “sif fatima II” was signed between ALNAFT and SH on last July 28th.

 

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