Eni has increased its stake in Algeria’s onshore Touat natural gas field after France’s Engie fully withdrew from the project, as confirmed by a presidential decree issued in Algeria.
The decree authorizes changes to the hydrocarbon contract covering the Touat perimeter, which includes blocks 352A and 353 in the Adrar region of southwestern Algeria. Under the new ownership structure, Eni takes over 8% of Engie’s former share, raising its indirect stake to 42.9%. Thailand’s PTTEP acquires the remaining 22%, bringing its participation to 34%, while Algeria’s state energy company Sonatrach keeps its 35% interest. Sonatrach continues to receive all gas production from the field.
The Touat field began operations in 2019 but shut down for an extended period in late 2021 after mercury contamination affected processing facilities. Operators carried out remediation work and invested in upgrades, allowing production to recover to about 13 million cubic meters per day, equivalent to roughly 4.5 billion cubic meters per year. The field forms part of Algeria’s Western Sahara gas network and supplies both domestic demand and export routes to Europe.
The ownership changes reflect a wider trend in Algeria’s energy sector, where Italian and Asian companies are increasing their presence as some French firms reduce involvement. Algeria remains a key market for Eni in Africa, ranking second on the continent for payments to host governments in 2024, totaling $1.2 billion. Eni and PTTEP are also exploring the nearby Reggane 2 block, awarded during Algeria’s 2024 licensing round, showing continued investment activity in the Adrar basin.
source: oilprice.com
African Energy Council