Algeria’s TFT gas field licence extended

Sonatrach, Total, Repsol and Alnaft (the National Agency for the Valorisation of Hydrocarbon Resources), have signed a new concession contract for a period of 25 years to extend exploration and production at Algeria’s Tin Fouyé Tabankort (TFT) gas and condensate field. The deal will give Total a 26.4% interest alongside Sonatrach (51%) and Repsol (22.6%). The companies have also signed a gas marketing agreement.

The partners plan to develop more than 250mn boe of additional field reserves. TFT currently produces over 80,000 boe/d.