The Italian giant specializing in hydrocarbons, ENI, announced Wednesday in a press release published on its website, its acquisition of the activities of BP (British Petroleum) in Algeria.
“In line with Eni’s distinctive strategy to meet the challenges of the current energy market, on September 7, 2022 we acquired BP’s activities in Algeria, operating two large gas fields “In Amenas” and “In Salah” , indicates the text.
The company explains that “this acquisition has great strategic value to further contribute to Europe’s gas needs and further strengthens our presence in Algeria, increasing our portfolio of assets in the country”.
For its part, BP also communicated on the transaction. It announced on its website that it had “agreed to sell its upstream activities in Algeria to Eni, including its interests in the Amenas and In Salah gas concessions”. BP said it held 33.15% stakes. and 45.89% in the In Salah and In Amenas projects respectively; knowing that both are operated by joint ventures co-owned by bp, Equinor and Sonatrach.
BP’s Executive Vice President, Low Carbon Gas, and Energy, Anja-Isabel Dotzenrath, quoted in the statement, said that “BP has worked successfully with Algeria and our partners for nearly 30 years, developing and supporting operations on two major gas projects for the country. We believe that this agreement represents a good result for BP and ENI and for Algeria”.
