Eni CEO talks shale gas development with Algerian Minister of Energy

Source: Eni

Eni CEO talks shale gas development with Algerian Minister of EnergyThe Algerian Minister of Energy and Mines, Youcef Yousfi, and Eni’s CEO, Paolo Scaroni, met today in Algiers, Algeria, to discuss Eni’s ongoing activities, progress so far and the potential for future projects in the country.

During the meeting, the Minister shared with Paolo Scaroni the strategic importance of Eni’s presence in the country. Eni CEO confirmed the Company’s interest in the development of new exploration activities in offshore (deepwater and ultra-deepwater), in which Eni has experience as a leading operator in the Mediterranean area, and onshore Algeria, particularly in the Atlas area located 100 kilometers south of Algiers, where Eni has conducted studies in recent years. In this regard, the company offered training activities to Sonatrach for its technicians.

Paolo Scaroni and Youcef Yousfi also discussed future developments of cooperation between Eni and Sonatrach for the exploration and development of shale gas. The two companies already finalized a Memorandum of Understanding and will bring together their vast experience in the exploration and production of unconventional hydrocarbons.

Eni has been present in Algeria since 1981 and has interests in 24 exploration and development licenses which are currently in production, and in 8 permits under development. In 2012, Eni was the leading producer in the country, with a daily equity production of approximately 80,000 barrels of oil equivalent.

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