ALGERIA - Background Of E&P Agreements

From: APS Review Gas Market Trends | Date: January 11, 1993 | Copyright information

Agip was the first foreign company to sign an E&P agreement with Sonatrach under the revised version of the August 1986 law. The accord stipulated that in the event of commercial find Agip will get recovery of exploration costs, while development spending will be split 50-50 with Sonatrach. Production-sharing of profit oil will range from 65-35 in Sonatrach's favour, for up to 15,000 b/d, to 87.5-12.5 for over 75,000 b/d. Several such agreements were signed by foreign companies subsequently. Agip in Dec. 17, 1991 signed its third E&P agreement with Sonatrach, covering the 6,800 sq ...

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