Upstream
Sonatrach, Total sign upstream partnership agreement
- The agreement will enable both sides to progress with new upstream projects

Total and Algeria’s state energy company Sonatrach signed a comprehensive agreement strengthening the existing partnership between the two companies, Total announced on Monday.

The agreement enables Sonatrach and Total to expand their partnership by progressing new upstream projects, notably with a new contractual framework for the Timimoun project. The deal also covers continued joint operations for the Tin Fouye Tabankort (TFT) field under a new agreement and joint development of a new project, as well as the amicable settlement of outstanding differences between the two companies.

The Timimoun natural gas project, located between Timimoun and Adrar in southwestern Algeria, is the outcome of an exploration and appraisal program that begun in 2003, during which six wells were drilled.

Timimoun, which is currently under development and of which Total has a 37.75 percent stake, is expected to commercially produce around 1.6 billion cubic meters of natural gas per year (160 millions cubic feet per day) at peak level.

The TFT license, in which Total has a 35 percent interest, is a gas and condensate field 300 kilometers west of the Libyan border.

The accord also enhances cooperation in other areas including exploration, petrochemicals, solar and international development, the statement read.

The agreement underscores the willingness of Sonatrach and Total to continue to work together to further develop and strengthen their historic partnership, it concluded.

By Ebru Sengul

Anadolu Agency

ebrusengul@aa.com.tr

 

 

 

 

11 Apr,2017
UPSTREAM NEWS