Exploration & Production

Sonatrach signs deal with Total and Repsol to extend TFT contract

France’s Total, Spain’s Repsol and Algeria’s state-owned Sonatrach have signed a new contract to extend the exploration of the Tin Fouyé Tabankort concession
By Staff reporter 12 June 2018 0 31260

France’s Total, Spain’s Repsol and Algeria’s state-owned Sonatrach have signed a new contract with the Algerian oil and gas licensing agency to extend the exploration of the Tin Fouyé Tabankort (TFT) concession for 25 years, Total said on Monday.

The new contract will give Total a 26.4% interest in the TFT gas and condensate field once it is approved by Algerian authorities. Sonatrach and Repsol will receive stakes of 51% and 22.6% respectively.

The partners will develop additional reserves estimated at more than 250...