Edison valued the deal at around $100 million.
Dawn Summers, Chief Operating Officer said:
- Algeria holds great potential for gas production and future energy projects
- Increasing our interest in the Reggane Nord project is a 1st step
- The project has been reliably producing low-cost natural gas since 2017 and has a long future securing energy supply in Algeria and the region
Reggane Nord began producing in 2017 and should continue until at least 2041.
The plan covers 6 gas fields over 1,800 sq. km. in the Southwest of Algeria.
Wintershall Dea also has recently extended a MoU with Algeria’s Sonatrach to explore new opportunities in the area of low-carbon energy solutions and gas production in the country.