By Ejekwu Chidiebere
Eni and Sonatrach have signed a memorandum of understanding (MoU) aimed at strengthening cooperation in the field of hydrocarbons, energy transition and renewable energies, with a focus on energy security and the economic development of the two countries. The signing took place during the Italy-Algeria intergovernmental summit in the presence of the President of the Democratic and Popular Republic of Algeria Abdelmadjid Tebboune and the Prime Minister of Italy, Giorgia Meloni.
“We have undertaken, with this protocol, to consolidate our cooperation with Sonatrach for the enhancement of Algerian energy resources through new contracts aimed at encouraging an increase in gas production, and the extension of gas supply contracts for export to Italy,” says Eni which also added that the two companies would also strengthen collaboration in the field of renewable energy and energy transition, namely through the definition of new initiatives.
This protocol Energy Window International (Media) was coming on the heels of the recent signing between Eni and Sonatrach of the agreement of the Zemoul El Kbar area and the allocation of the Reggane II area, which together with the initiatives covered by the protocol will contribute to increasing gas production up to 5.5 billion cubic metres per year by 2028, with total investments of more than $8 billion.
Eni says it has been present in Algeria since 1981. With an equity production of about 137,000 barrels of oil equivalent per day in 2024, it says it stands as the most important international company operating in the country.