Eni, Sonatrach to develop unconventional oil, shale gas in Algeria

Source: Eni

Eni (NYSE:E) and Sonatrach signed a cooperation agreement for the development of unconventional oil, with particular focus on shale gas, in Algeria, reinforcing the close relationship between the two companies. 

With extensive experience in exploration and production of unconventional oil, Eni and Sonatrach will jointly implement activities to assess the technical and commercial feasibility of exploration and operational initiatives in shale gas. 

Based on previous assessments, Eni confirms the significant shale gas reserves in Algeria which Eni and Sonatrach wish to explore and develop. This will enable both companies to make important discoveries which will enhance the gas potential of the country. 

Eni has been in Algeria since 1981. Eni's equity production is currently 75,000 barrels per day. In Algeria, Eni holds 24 licenses in production, 8 licenses under development and an ongoing exploration license.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs