Algeria, TotalEnergies strengthen gas partnership with $740 mln contracts

Oil and gas supermajor TotalEnergies and Algeria’s national oil company Sonatrach have signed deals totaling $740 million to increase output from two Sahara Desert fields in southeastern Algeria, for export to France and elsewhere in Europe.

The agreements signed will bring the combined production of TFT II and TFT South to more than 100,000 barrels oil equivalent per day by 2026 against a current production of about 60,000 BOE.

The contracts contracts were signed during a meeting in Algeria’s capital city of Algiers between TotalEnergies Chairman and CEO, Patrick Pouyanné, and Sonatrach CEO, Toufik Hakkar on Sunday.

Sonatrach recalled that “the Tin Fouye-Tabankort area’s TFT II contract provides development investments of $332 million, permitting the recovery of 43 billion cubic metres of gas, 4.3 million tons of condensate and 5.7 million tons of LPG”.