bp announced that it has agreed to sell its upstream business in Algeria to Eni, including its interests in the gas-producing In Amenas and In Salah concessions.

bp holds working interests of 33.15% and 45.89% in the In Salah and In Amenas projects respectively. Both are operated by joint ventures co-owned by bp, Equinor and Sonatrach.

The In Salah Gas joint venture has developed seven gas fields in the Southern Sahara, approximately 1,200 kilometres south of Algiers. Production began in 2004 with a second phase starting up in 2016. The In Amenas joint venture produces gas and natural gas liquids from the Illizi basin in south-eastern Algeria, with first production coming in 2006.

Anja-Isabel Dotzenrath, bp’s executive vice president, gas & low carbon energy, said: “bp has worked successfully with Algeria and our partners for over almost 30 years, developing and supporting operations on two major gas projects for the country. We believe this agreement represents a good outcome for bp and Eni and for Algeria.”

Karim Alaa, bp’s senior vice president Egypt, Algeria and Libya, added: “We are very proud of what bp has achieved in Algeria over many years and have appreciated the support of the government over this time. With its significant existing presence in Algeria and wider region, we believe Eni will be well positioned to work with partners and the government as they continue to take these assets forward.”

The companies have informed partners and the relevant Algerian government entities of their agreement. The transaction is subject to government approvals, partner pre-emption processes, and competition clearances processes.

About bp

bp (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.

About Eni

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.