Sonatrach signs agreement with Total, Repsol on Tin Foye Tabankort gas field
APS - 10 June 2018
ALGIERS- National Hydrocarbon company Sonatrach signed Monday, in Algiers, search and exploration agreement with Total (France) and Repsol (Spain) in the area of Tin Foye Tabankort in Hassi Messaoud.
This agreement provides for the execution of an additional programme of USD324 million over a period of 25 years and financed at 51% by Sonatrach, 26.4% by Total and 22.6% by Repsol.
This additional development programme will allow maintaining the production of Tin Foyé Tabankort field which reaches currently more than 80,000 oil-equivalent barrels/day for six (06) years, i.e. 3bn cu meters, recovering additional hydrocarbon reserves estimated at more than 250 million oil-equivalent barrels.
This partnership between the three partners provides for the execution of a programme of additional works comprising notably the drilling of eleven new wells, the implementation of an upstream low-pressure compression unit of the factory and the optimization of the surface network and the factory functioning.