Total announces extension of Tin Fouyé Tabankort gas, condensate field in Algeria
PARIS -- 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 the exploitation of the Tin Fouyé Tabankort (TFT) gas and condensate field. This new contract, which will become effective upon the approval by the relevant Algerian authorities, 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 will carry out the drilling and development investments required to develop additional reserves estimated at more than 250 MMboe. These investments will allow to maintain the production of the field, which is currently over 80,000 boed for six years.