Italy’s Eni and Algeria’s state oil company Sonatrach have announced the discovery of significant oil and gas reserves in the Sif Fatima II concession, located in the northern Berkine Basin in the Algerian desert.
The Rhourde Oulad Djemaa Ouest-1 (RODW-1) exploration well – the third of five wells to be drilled by Eni and Sonatrach – is part of a wider campaign aimed at accelerating ‘upstream’ activities in the North African country to meet growing demand both domestically and in Europe.
The proximity of the RODW-1 discovery to previous discoveries and existing facilities in the basin, including Zemlet el Arbi, which was made by Eni and Sonatrach in March 2022, will allow Eni and Sonatrach to accelerate development, reducing associated expenditure.
While Eni, currently produces up to 100,000 bbl/day of oil. Discoveries such as RODW-1 and greater exploration investments in Algeria will allow for increased production in the market.
Agreements such as those signed with US-based Oxy, TotalEnergies and Sonatrach in mid-July to accelerate investments in blocks 404 and 208 in the Berkine Basin will allow the Italian giant to expand production in Algeria, while an agreement to boost exports via TransMed / Enrico Mattei will strengthen energy ties between Algeria and Europe.
08/03/2022
