Algeria’s Sonatrach on June 11 signed an exploration and development contract with France’s Total and Spain’s Repsol for the Tin Fouyé Tabankort gas field in Block 238, the state energy firm said.
The three firms will invest $324 million to keep output at 3 billion cubic meters of gas per year for the next six years, Sonatrach executives told reporters. They will also develop additional reserves at the field estimated at more than 250 million barrels of oil equivalent.
Sonatrach owns 51% of the field, Total 26.4% and Repsol 22.6%.
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