Repsol, BP & Eni Eye Algeria/Libya Border Bonus

Spain’s Repsol, the UK’s BP and Italy’s Eni all have key acreage on both sides of Algeria’s border with Libya, as does Algerian state firm Sonatrach. With IOCs considering a return to Libyan exploration, will they also look anew at the potential for cross border synergies?

Spain’s Repsol is considering a 2019 final investment decision at its Southeast Illizi block in Algeria’s remote southeast.

“It will be our target to analyze the possibility to take a potential FID in Sureste Illizi in Algeria in 2019,” Repsol CEO Josu Jon Imaz told his firm’s Q3 earnings call on 31 October, giving the name of the block in Spanish.

Repsol was awarded the block on the Libyan border in 2009 and drilled several successful wells between 2012 and 2015 ( MEES, 24 April 2015 ). Erstwhile partners Enel of Italy and Engie of France pulled out in late 2017 – the result of a strategic decision by both power-focused firms to quit the upstream – leaving Algerian state firm Sonatrach with 64.5% to Repsol’s 35.5% ( MEES, 26 January ). (CONTINUED - 1210 WORDS)

DATA INSIDE THIS ARTICLE

chart Libya's Key Sharara Fields: Operator Repsol Forecasts* Output Rebound To 320,000 B/D For Q4, Highest Since 1Q 2013 ('000 B/D)
chart Gas Output At Algeria's In Amenas Has Fallen Back After A Record 2017 On The Back Of The End-16 Start-Up Of A Key Compression Project (Mn Cfd)