(Adnkronos) – Italian major Eni and Algeria’s oil and gas company Sonatrach have signed an accord to strengthen cooperation in the field of hydrocarbons, energy transition and renewable energies, Eni said in a statement on Wednesday.
The Memorandum of Understanding has a focus on energy security and the economic development of the two countries, said the statement.
The MoU’s signing took place during the Italy-Algeria intergovernmental summit Rome in the presence of the Algeria’s president Abdelmadjid Tebboune and Italy’s prime minister Giorgia Meloni, the statement noted.
A total 13 agreements were inked between Italy and Algeria’s governments at Wednesday’s summit, including one on fighting terrorism and its financing.
“Our bilateral relations have reached a level of intensity and solidity that had never been achieved before,” Meloni told a news conference after the meeting.
Under the MoU, Eni and Sonatrach agree to bolster joint efforts to enhance Algerian energy resources through new contracts aimed at boosting gas production and extending gas supply contracts for export to Italy, the statement noted.
The two companies will also step up collaboration on new initiatives in the field of renewable energy and the green transition, the statement continued.
The MoU follows the recent signing between Eni and Sonatrach of production sharing contract to explore and develop hydrocarbons in the Zemoul El Kbar area in the Berkine Basin and the allocation of the Reggane II area.
Together with the initiatives covered by the protocol the contract will help lift gas production up to 5.5 billion cubic metres per year by 2028, with total investments of more than $8 billion euros, said the statement.
Eni has operated Algeria since 1981. With an equity production of about 137,000 barrels of oil equivalent per day in 2024, Eni is the primary international company operating in the North African country.
