TotalEnergies, Sonatrach Agree to Strengthen Gas Cooperation, Develop Renewable Projects
July 10 2023 - 1:58AM
Dow Jones News
By Giulia Petroni
TotalEnergies has signed several agreements with Algeria's
state-owned oil company Sonatrach to increase the production and
delivery of gas as well as develop renewables projects in the
country.
The French major said Monday that the companies aim to increase
the gas production of two fields they control in southern Algeria
by upgrading the existing facilities and drilling additional wells.
The combined production of the so-called TFTII and TFT sud fields
is expected to exceed 100,000 barrels of oil equivalent a day by
2026 compared with around 60,000 boe a day in 2022.
The partners have also agreed on additional deliveries by
Sonatrach of 2 million tons a year of liquefied natural gas to
TotalEnergies at the port of Fos-Cavaou in France for 2024.
TotalEnergies said the companies will also collaborate to
develop some renewables projects, including one to solarize
exploration and production sites for oil and gas.
Financial details weren't released.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 10, 2023 02:43 ET (06:43 GMT)
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