Repsol to develop the Reggane North gas fields in Algeria
Press Release14/02/2012 00:00
The Algerian government has authorised the development plan for the six fields of the North Reggane project in the Algerian Sahara desert.
Repsol holds a 29.25% stake in the consortium, in partnership and jointly operated with Sonatrach (40%), RWE Dea (19.5%) and Edison (11.25%).
Total investment for the development of the project is estimated at 2.225 billion euros ($3 billion), including the construction of operational and support infrastructure.
The consortium expects to start production in mid-2016, and reach stable production of 8 million cubic metres/day of gas during the first 12 years.
Repsol has a long historical presence in North Africa, where it produces 50,000 barrels of oil equivalent a day.