Overview

• Sonatrach and Midad Energy North Africa agreed a production-sharing contract covering the Illizi South perimeter in the Illizi Basin.
• The agreement spans 30 years with a possible 10-year extension and includes a seven-year exploration phase.
• Midad Energy North Africa will finance the full investment, allocating $288 million to exploration activities.
• The project area sits about 100 kilometers south of In Amenas near Algeria's border with Libya.
• Over the contract term, output is projected at about 993 million barrels of oil equivalent, and the deal aligns with Algeria’s $60 billion five-year energy investment plan, which includes recent partnerships such as an $850 million contract with Sinopec.