Eni Raises Touat Field Stake to 42.9% After Engie Exit
Eni has increased its indirect participation in Algeria’s onshore Touat gas field to 42.9% by assuming an additional 8% stake from Engie, while PTTEP now holds 34% and Sonatrach retains 35%. Production recovery reached roughly 13 million cubic meters per day after mercury contamination remediation.
1. Stake Restructure
An Algerian presidential decree dated February 17 approves amendments to the long-standing hydrocarbon contract for Touat blocks 352A and 353. Eni has absorbed 8% of Engie’s former stake to reach 42.9% indirect participation, PTTEP holds 34% after acquiring 22%, and Sonatrach maintains its 35% share, with all output allocated to the state firm.
2. Production Recovery
Operational since 2019, the Touat field suffered a shutdown in late 2021 due to mercury contamination in its processing facilities. Following targeted remediation investments, daily output has rebounded to approximately 13 million cubic meters, equivalent to around 4.5 billion cubic meters annually.
3. Strategic Importance
Touat is part of Algeria’s Western Sahara gas system, supplying both domestic markets and exports to Europe. Algeria ranked second among Eni’s African operations in 2024, with total payments to host governments of $1.2 billion, underscoring the country’s strategic value for the Italian group.
4. Future Exploration
Eni and PTTEP are jointly exploring the nearby Reggane 2 block, awarded in Algeria’s 2024 bid round. This partnership signals continued investment momentum in the Adrar basin and aligns with Eni’s broader strategy to expand its footprint in North Africa.