Eni acquires BP’s business in Algeria

Eni announces that it has agreed to acquire BP business in Algeria, including the two gas-producing concessions “In Amenas” and “In Salah” (45.89% and 33.15% working interest respectively). The “In Amenas” and “In Salah” assets, which are jointly operated with Sonatrach and Equinor, is located in the Southern Sahara and their production of gas and associated liquids began in 2006 and 2004 respectively. In 2021 they produced approximately 11 billion m3 of gas, 12 million barrels of condensates, and LPG.

This acquisition has a great strategic value to further contribute to Europe’s gas needs and further strengthens Eni’s presence in Algeria, a major gas producer and a key country in for Eni. Today’s operation will allow Eni to increase its portfolio of assets in the country and, jointly with the new contracts of Berkine South and Block 404/208 recently signed, will allow new and synergic development opportunities, mainly focused on increasing gas production.

The acquisition is in line with Eni’s distinctive strategy to address the challenges of the current energy market to deliver secure and sustainable energy to customers while accelerating the path to net-zero.

The transaction is subject to the approval of the competent authorities.

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