Amendment to contract between SONATRACH and foreign companies approved

ALGIERS- A presidential decree approving an amendment to a contract between the national hydrocarbon company SONATRACH and the national agency for hydrocarbon resource development ALNAFT and three foreign energy firms has
been approved Wednesday by the Council of Ministers during a meeting chaired by President of the Republic Abdelaziz Bouteflika.
The contract was signed on 17 January 2010 between ALNAFT, SONATRACH and Italy’s Enel, Spain’s Repsol and France’s GDF Suez for the exploration and exploitation of hydrocarbons in blocks 232 and 241.a in southeast of Illizi.
The amendment consists in the transfer, free of charge, of shares held by the foreign firms Enel and GDF Suez in this field to the national company SONATRACH.
Pursuant to the amendment, 64.5% of shares in this field will be held by SONATRACH and 35.5% by the Spanish firm Repsol.

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