Sonatrach (the state-owned energy company of Algeria), Total, Repsol, and Alnaft signed a 25-year concession contract to extend the Tin Fouye Tabankort (TFT) gas and condensate field, pending approval by Algerian authorities, Total said. The contract will give Total a 26.4% interest, Sonatrach 51%, and Repsol 22.6%. The companies also have signed a marketing agreement. Partners will make investments to develop additional reserves estimated at more than 250 million BOE. These investments will help maintain TFT production, which is at 80,000 BOE/D, for an anticipated 6 additional years. Total is providing technical expertise to keep developing the gas reserves. In 2017, Total’s 15,000 BOE/D of Algerian production all came from TFT field.
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