The press release indicates that the acquisition, which was announced last September, has obtained the approval of the competent authorities in Algeria, as well as the European Anti-Monopoly Authority.
Eni indicated that it had thus finalized the process of acquiring the assets of the British company in the fields of Ain Saleh (south) and Ain Amnas (south-east), which are managed in partnership with Sonatrach and the Norwegian “Equinor “.
The statement describes the two gas fields as “significant”, without providing details on their daily and annual production.
The press release also underlined that the acquisition aims to better meet European gas needs and strengthen Eni’s presence in Algeria, where it has been active since 1981.
The press release adds: “Eni’s expected production in Algeria during the current year will reach 130,000 barrels of oil equivalent per day, which will make it the first foreign company in Algeria.”
Sonatrach and Eni signed an agreement last year to provide Italy with an additional gas supply of 9 billion cubic meters per year.
In the aftermath of the Russo-Ukrainian war and Europe’s efforts to rid itself of its dependence on gas from Moscow, Algeria became Italy’s leading supplier of natural gas.
Algeria is connected to Italy by the “Transmad-Enrico Mattai” gas pipeline, which connects it across the Mediterranean Sea, passing through Tunisia, and its annual transport capacity exceeds 32 billion cubic meters.
