Sonatrach, Total, Repsol, and Alnaft (the National Agency for the Valorisation of Hydrocarbon Resources), signed a 25-year concession contract to extend Tin Fouye Tabankort (TFT) gas and condensate field, pending approval by Algerian authorities, Total said.
The contract will give Total a 26.4% interest, Sonatrach 51%, and Repsol 22.6%. The companies also have signed a marketing agreement.
Partners will make drilling and development investments required to develop additional reserves estimated at more than 250 million boe. These investments will help maintain TFT production, which is at 80,000 boe/d, for an anticipated 6 additional years.
Total is providing technical expertise to keep developing the gas reserves. In 2017, Total produced 15,000 boe/d in Algeria, all of it from TFT field. In March, Total started production from Timimoun gas field in southwestern Algeria.
Through the Maersk Oil acquisition earlier this year, Total holds 12.25% interest in El Merk, Hassi Berkine, and Ourhoud oil fields, which have a combined production capacity of 400,000 boe/d.
