Image: Alberto Bernasconi
Italian oil and gas company, Eni announced that it has signed two agreements for the exploration of oil in Algeria.
The oil exploration agreements were signed together with French oil major, Total and Algeria’s national oil company Sonatrach.
The exclusive agreement forms part of both Eni and Total obtaining exploration permits for the rapid completion of the hydrocarbon potential assessment, Eni said in a statement during the Algeria Energy Summit in the nation’s capital yesterday.
Eni’s CEO, Claudio Descalzi said: “Together with Sonatrach and Total, we will have the opportunity to explore the deep waters of the Algerian offshore, a virtually unexplored geological province where Eni will be able to contribute by leveraging its experience in the Eastern Mediterranean and its inventory of advanced exploration technologies.”
Eni is Algeria’s main international role player and has been in the country since 1981. Eni currently participates in 32 mining permits.
Leading energy investment platform for Africa, ECP, is fully committed to helping the continent achieve food security on the back of large-scale energy developments.