Total has signed a concession contract with Sonatrach and Alnaft for the development of the Erg Issouane gas field in Algeria.
The deal is part of a comprehensive partnership with Sonatrach announced in 2017.
The Erg Issouane gasfield lies in the TFT Sud permit south of Tin Fouyé Tabankort (TFT) gas and condensate field.
Total will own 49% interest in the project, while Sonatrach will own the remaining 51%.
The companies also signed a shareholder agreement to form a joint venture named Sonatrach Total Entreprise Polymères (STEP) to develop a petrochemical project in Arzew, western Algeria.
Based in France, Total is an integrated oil and gas company, while Sonatrach operates as an oil and gas company in Algeria.
The deal will enable Sonatrach and Total to continue the development of the country’s gas reserves.
BP Midstream Partners (BPMP) has acquired stakes in Mardi Gras Transportation System Company, URSA Oil Pipeline Company, and KM-Phoenix Holdings from the subsidiaries of BP for $468m.
The transaction increases BPMP’s stake in Mardi Gras oil and gas transportation system from 20% to 65%, while BP will retain the remaining 35% stake in the system.