Algeria has solidified its role as the third Mena production base of Thailand’s PTT. The state firm’s upstream arm PTTEP on 20 December announced that it had agreed to buy the 22.1% stake of France’s Engie in Algeria’s 400mn cfd Touat gas project.
Touat has had a checkered record, having been offline more time than online since its September 2019 start-up (MEES, 30 June 2023), with the partners in the field claiming almost $1bn in damages from key EPC contractor Técnicas Reunidas of Spain (MEES, 19 April 2024). (CONTINUED - 912 WORDS)
