The Algerian energy sector has just experienced a new significant episode with the announcement of the acquisition by the Thai company PTT of a 22.1% stake in the Touat gas project, located in the region of Timimoun, in the wilaya of Adrar.
The acquisition by PTT of the share previously held by the French Engie represents a key step in the development of the field. This project, operated under a production sharing regime, also involves renowned partners such as the Italian Eni (42.9%) and the Algerian national company Sonatrach (35%). According to information obtained by the specialized platform “Mees”, this transaction is expected to be finalized by the second quarter of 2025, subject to the necessary regulatory approvals.
For PTT, this acquisition is part of an international expansion strategy, aimed at diversifying its assets and strengthening its presence in promising energy markets. The Thai company stressed that the Touat project represents a low-risk investment, being already in the production phase. This will allow PTT to increase its revenues and reserves in the short and long term, while consolidating its future growth.
A strategic field with considerable reserves
The Touat field, operational since 2019, has reserves estimated at 1.92 trillion cubic feet of natural gas, as well as 5.4 million barrels of condensate. Currently, its production amounts to around 12 million m2, with prospects of increasing in the years to come.
The Touat field has experienced technical difficulties in recent years, notably due to mercury contamination of processing facilities, which resulted in production being halted for more than two years. However, since the entry of Eni, which acquired the shares of the former operator Neptune Energy in 2023, operations have resumed successfully.
Eni has invested $4.9 billion to modernize infrastructure and restart production, now reaching a processing capacity of 12 million cubic meters per day. This recovery allowed Algeria to recover additional production of 4.5 billion cubic meters of gas, thus helping to strengthen its reserves and support its export ambitions.
The country aims to achieve production of 200 billion cubic meters by 2027, half of which will be intended for export.
