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BP today announced that it has agreed to sell its upstream business in Algeria to Eni, including its gas-producing interests in the Amenas and Salah concessions.
bp holds 33.15% and 45.89% working interests in the In Salah and Amnas projects respectively. Both are operated by joint ventures jointly owned by bp, Equinor and Sonatrach.
BP CEO, Gas and Low Carbon Energy Vice President Anja-Isabel Dozenrath said: “BP has worked successfully with Algeria and our partners for nearly 30 years, developing and supporting two major gas projects for the country. We believe this agreement represents a good outcome for BP and Eni and for Algeria.
“BP has worked successfully with Algeria and our partners for almost 30 years, developing and supporting two major gas projects for the country. We believe this agreement represents a good outcome for BP and Eni and for Algeria.”
Anja-Isabel Dotzenrath, BP Executive Vice President, Gas and Low Carbon Energy
The In Salah Gas Consortium has developed seven gas fields in the southern Sahara, 1,200 kilometers south of Algiers. In the year Production started in 2004 with the second phase in 2016. The Amenas joint venture produces gas and natural gas liquids from the Ilyzi Basin in south-eastern Algeria, with first production coming in 2006.
BP’s Senior Vice President Egypt, Algeria and Libya Karim Alaa added: “We are very proud of the results achieved in Algeria over the years and we appreciate the government’s support during this time. With its significant presence in Algeria and the wider region, we believe Eni will be well-positioned to work with partners and the government as they continue to develop these assets.
The companies have communicated their agreement to partners and relevant Algerian government bodies. The transaction is subject to government approvals, partner pre-selection procedures and competitive approval procedures.
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