Total has signed a concession contract with Sonatrach and Alnaft for the development of the Erg Issouane gas field in Algeria.
The deal is part of a comprehensive partnership with Sonatrach announced in 2017.
The Erg Issouane gasfield lies in the TFT Sud permit south of Tin Fouyé Tabankort (TFT) gas and condensate field.
Total will own 49% interest in the project, while Sonatrach will own the remaining 51%.
The companies also signed a shareholder agreement to form a joint venture named Sonatrach Total Entreprise Polymères (STEP) to develop a petrochemical project in Arzew, western Algeria.
Based in France, Total is an integrated oil and gas company, while Sonatrach operates as an oil and gas company in Algeria.
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By GlobalDataThe deal will enable Sonatrach and Total to continue the development of the country’s gas reserves.
BP Midstream Partners (BPMP) has acquired stakes in Mardi Gras Transportation System Company, URSA Oil Pipeline Company, and KM-Phoenix Holdings from the subsidiaries of BP for $468m.
The transaction increases BPMP’s stake in Mardi Gras oil and gas transportation system from 20% to 65%, while BP will retain the remaining 35% stake in the system.
The Mardi Gras system includes four pipelines located in the Mississippi Canyon and Green Canyon areas of the Gulf of Mexico.
BPMP will also own 22.6916% of BP in the Ursa offshore pipeline and 25% in KM-Phoenix.
The Ursa pipeline is located in the Gulf of Mexico deepwaters. The pipeline connects Mississippi Canyon area with the Mars Pipeline located to the West Delta 143 platform.
Based in the US, BPMP owns, acquires, operates, and develops pipelines and other midstream assets.
The acquisition will enable BPMP to strengthen and diversify its portfolio.
Eni has signed a letter of intent (LoI) with National Oil (NOC) and BP to purchase half of BP’s interest in an oil and gas permit located in Libya.
Eni will hold a 42.5% stake in BP’s exploration and production sharing agreement (EPSA) in Libya upon completion of the transaction.
BP will hold 42.5% in the EPSA, while the remaining 15% will be held by the Libyan Investment Authority.
Eni will become operator of the EPSA, which comprises two onshore Ghadames basin contracts and one offshore Sirt basin area covering 54,000km².
National Oil is a state-owned company of Libya.
OMV has entered an agreement to acquire 24.98% interest in the Achimov IV and V development phases from Gazprom.
The Achimov IV and V are in the Urengoy gas and condensate field in northern West Siberian Basin.
The acquisition agreement replaces a former agreement involving the acquisition of interests in the assets by OMV in exchange for certain assets to be offered to Gazprom.
Based in Austria, OMV is an integrated oil and gas company, while Gazprom is a Russian energy company.
