Eni announces that it has agreed to acquire BP business in Algeria, including the two gas-producing concessions “In Amenas” and “In Salah” (45.89% and 33.15% working interest respectively).

The “In Amenas” and “In Salah” assets, which are jointly operated with Sonatrach and Equinor, are located in the Southern Sahara and their production of gas and associated liquids began in 2006 and 2004 respectively. In 2021 they produced approximately 11 billion m3 of gas, 12 million barrels of condensates and LPG.

This acquisition has a great strategic value to further contribute to Europe’s gas needs and further strengthens Eni's presence in Algeria, a major gas producer and a key country in for Eni. Today’s operation will allow Eni to increase its portfolio of assets in the country and, jointly with the the new contracts of Berkine South and Block 404/208 recently signed, will allow new and synergic development opportunities, mainly focused on increasing gas production.

The acquisition is in line with Eni’s distinctive strategy to address the challenges of the current energy market to deliver secure and sustainable energy to customers, while accelerating the path to net-zero.

The transaction is subject to the approvals of the competent authorities.

Eni has been present in Algeria since 1981. Following these acquisitions and the development programs underway in the Berkine basin, in 2023 Eni's production from Algeria will rise to over 120,000 barrels of oil equivalent per day, further confirming Eni as the main international energy company operating in the country.

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.

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.