Eni, an Italian energy company, announced on Wednesday that it has agreed to buy BP’s operations in Algeria, including two significant gas fields.
Eni confirmed what sources had informed reporters earlier this year that it will purchase BP’s holdings in the southern Algerian gas fields of In Salah and In Amenas.
The latest contracts for Berkine South and Block 404/208, along with the action on Wednesday, open up new and synergistic development prospects, primarily geared toward boosting gas output, according to Eni.
To enhance Algeria’s gas supplies to Italy as it seeks to replace Russian supply, CEO Claudio Descalzi traveled to Algeria earlier this year with top Italian government officials.
Eni has a lengthy history with Algeria and long-term gas contracts with state-owned energy firm Sonatrach.
