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bp to sell its business in Algeria to Eni

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bp has agreed to sell its upstream business in Algeria to Eni, including its interests in the gas-producing In Amenas and In Salah concessions.
bp holds working interests of 33.15% and 45.89% in the In Salah and In Amenas projects respectively. Both are operated by joint ventures co-owned by bp, Equinor and Sonatrach
Anja-Isabel Dotzenrath, bp’s executive vice president, gas & low carbon energy, said: “bp has worked successfully with Algeria and our partners over almost 30 years, developing and supporting operations on two major gas projects for the country.
“We believe this agreement represents a good outcome for bp and Eni and for Algeria.”
The In Salah Gas joint venture has developed seven gas fields in the Southern Sahara, approximately 1,200 kilometres south of Algiers.
Production began in 2004 with a second phase starting up in 2016. The In Amenas joint venture produces gas and natural gas liquids from the Illizi basin in south-eastern Algeria, with first production coming in 2006.
Karim Alaa, bp’s senior vice president Egypt, Algeria and Libya, added: “We are very proud of what bp has achieved in Algeria over many years and have appreciated the support of the government over this time.
“With its significant existing presence in Algeria and wider region, we believe Eni will be well positioned to work with partners and the government as they continue to take these assets forward.”
The companies have informed partners and the relevant Algerian government entities of their agreement. The transaction is subject to government approvals, partner pre-emption processes, and competition clearances processes