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Sonatrach Signs an Agreement with BP and Equinor

Source: www.gulfoilandgas.com 10/29/2018, Location: Africa

The Sonatrach Group signed an agreement Monday in Algiers with the oil companies BP (United Kingdom) and Equinor (Norway), for the exploration and development of unconventional resources in the basins of southwestern Algeria, said the group in a statement.

This "important" agreement, signed on the sidelines of the work of the Algeria Future Energy Summit, "concretizes the will of the parties to explore and develop the associated gas resources contained in the area of interest on the basis of the results of the study carried out. in 2013 by Sonatrach and BP ", according to the same source.

The program of research proposed by BP and Equinor, considered "promising" by Sonatrach, provides for a new 3D seismic acquisition and the drilling of several exploratory and appraisal wells.

In the medium term, the development of this project will make it possible to replace the gas production of the current deposits and extend the operating life of the surface installations, underlines the statement (APS).

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects

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