Eni has signed a number of agreements, including on relaunching exploration and development, with Algeria’s Sonatrach.
Sonatrach will invest $40 billion over the next five years, of which 51% will be in dinars, the company’s CEO Toufik Hakkar has said.
Rising COVID-19 numbers in Algeria have driven Sonatrach boss Toufik Hakkar to call for employees to increase their vigilance.
Sonatrach has brought a fire at the El Merk processing plant under control.
Senior Sonatrach executives have held a meeting with Naturgy to review gas agreements.
Algeria’s Sonatrach has continued its habit of signing memorandums of understanding (MoUs), adding OMV and Cepsa to its list.
Sonatrach is facing a “deep audit” by the Algerian state, while the company also attempts to control costs.
Sonatrach has signed gas agreements with Eni following a high-level meeting in Algiers.
Sonatrach has confirmed it plans to cut its spending in 2020 by 50%, pushing back projects that are not urgent, the company’s CEO Toufik Hakkar told a local newspaper.
Algerian President Abdelmadjid Tebboune has appointed Toufik Hakkar to head up Sonatrach, ousting Kamel Eddine Chikhi. Hakkar was previously a vice president at the group.