Posted by: OilReviewAfrica
Sonatrach, Total, Repsol and Alnaft have signed a new concession contract for 25 years to extend the exploitation of the Tin Fouyé Tabankort (TFT) gas and condensate field in Algeria
This new contract, awaiting approval by the relevant Algerian authorities, is expected to give Total a 26.4 per cent interest, with Sonatrach and Repsol holding 51 per cent and 22.6 per cent of interest.
This project is in line with Total’s strategy to grow its oil and gas production in the North African nation. According to the French multinational company and a front-runner is Africa’s oil and gas industry, the TFT agreement will strengthen its exploration activities and boost strategic cooperation between the companies.
The international oil and gas companies have also signed a gas marketing agreement, to carry out drilling and development investments to develop additional reserves, estimated at more than 250 mmbbl of oil equivalent.
These investments will allow maintaining the production of the field, which is currently more than 80,000 boepd for a period of six years.
In March 2018, Total announced the start of production of first gas from the Timimoun field. Timimoun’s gas will be produced with 37 wells connected to a gas processing facility that ties into the GR5 pipeline used to transport gas from fields in southwestern Algeria to Hassi R’mel.
Referring to North Africa’s gas project, Patrick Pouyanné, chairman and CEO of Total, said, “As a historical partner of the TFT field, Total will continue to provide the best of its technological expertise to keep developing the reserves of this gas field.”
Total’s oil and gas exploration and production activities in North Africa date back to 1952. In 2017, Total produced 15,000 boepd in Algeria, all of it from the TFT gas and condensate field. The group currently holds a 35 per cent in interest in TFT.