Eni this week announced a long-anticipated deal to buy BP’s upstream business in Algeria which constitutes stakes in two key gas projects – In Amenas and In Salah – with output equal to more than a tenth of the country’s total.
The purchase is the latest in a string of Algeria-related developments for Eni which has placed the country at the heart of its upstream plans (MEES, 1 April). And although the BP deal has been in the works for more than a year (MEES, 2 July 2021), Eni is keen to note the importance of the move to Europe’s energy security amid Russia’s gas squeeze. (CONTINUED - 910 WORDS)
