TotalEnergies has signed 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 footprintTotalEnergies 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 20)
TotalEnergies has signed 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 footprintTotalEnergies 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 20)
