Neptune Energy reported pre-tax profits of $1.4 billion (£1.1bn) for 2021, but noted ongoing issues with key assets in Norway and Algeria.
Stronger oil and gas prices brought North Sea operator Neptune Energy back to profits in the first half of 2021.
Sonatrach CEO Toufik Hakkar has visited Algeria’s southwest, seeing the Touat and North Reggane facilities.
Higher oil and gas prices, tax refunds and “tight cost control” helped Neptune Energy overcome a drop in production to lift its profits by two-thirds in the first quarter.
Sonatrach has signed contracts with six domestic companies on the construction of networks and pipelines.
Neptune Energy today announced a major milestone for the Touat gas facility in Algeria, with operatorship having been formally passed to Groupement Touat Gaz (GTG).
Neptune Energy has appointed Mehdi Bouguetaia to act as managing director in Algeria.
First gas has entered the facilities for Neptune Energy and Sonatrach's Touat project in Algeria as part of the commissioning stage.