Better late than never. Algeria awarded Italian firm Eni an E&P contract this week, the first under the country’s new oil law which was adopted some two years ago (MEES, 10 January 2020).
Central to the contract is the so-called ‘Southern Berkine Project,’ which is estimated to cost $1.4bn (including $1bn from Eni) and produce 45,000 boe/d. First phase start-up from an estimated 135mn boe of reserves is planned for the end of 2022. Future phases will presumably depend on exploration efforts. (CONTINUED - 857 WORDS)