(CercleFinance.com) – BP announced today that it has agreed to sell its upstream activities in Algeria to Eni, including its interests in the gas concessions of In Amenas and In Salah.
BP holds working interests of 33.15% and 45.89% in the In Salah and In Amenas projects respectively. Both are operated by joint ventures jointly owned by bp, Equinor and Sonatrach.
Anja-Isabel Dotzenrath, BP’s Executive Vice President, Low Carbon Gas and Power, said: ‘BP has worked successfully with Algeria for nearly 30 years supporting operations on two major gas projects for the country. We believe that this agreement represents a good result for bp and Eni and for Algeria. ‘
The In Salah Gas joint venture has developed seven gas fields in the southern Sahara, about 1,200 kilometers south of Algiers. The In Amenas joint venture produces gas and natural gas liquids in the Illizi basin in southeastern Algeria.
The companies have informed their partners and the relevant Algerian government entities of their agreement. The transaction is subject to government approvals, partner pre-emption processes and competitor clearance processes.
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