The Algerian energy sector welcomes a new major player. Thailand’s state-owned oil and gas company PTT recently announced the acquisition of a 22.1% stake in the Touat gas projectlocated in the region of Timimoun, in the wilaya of Adrar.
This operation marks a strategic turning point for the development of the field and for Thailand’s involvement in the Algerian energy sector.
A strengthened international partnership
The share acquired by PTT was previously held the French group Engie.
This transfer of participation adds to the collaboration already in place between renowned partners: the Italian Eni (42.9%) and the Algerian national society Sonatrach (35 %).
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According to the specialized platform “ Man “, the transaction is expected to be completed by the second quarter of 2025, subject to regulatory approvals.
This acquisition is part of PTT’s international expansion strategy, which seeks to diversify its assets and strengthen its presence in high-potential energy markets.
The Touat project, already in the production phase, constitutes a low-risk investment for PTT.
It will enable the Thai company to increase its revenues and reserves, while consolidating its foundation for future growth.
Touat: a strategic field with promising reserves
The Touat gas field, operational since 2019, has reserves estimated at 1.92 trillion cubic feet natural gas as well as 5.4 million barrels of condensates.
Its current production reaches approximately 12 million cubic meters per day, with significant growth prospects in the years to come.
After technical difficulties related to mercury contamination of the processing facilities, leading to an interruption of more than two years, the project successfully resumed under the management of Eni.
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In 2023, the Italian company, having acquired the shares of Neptune Energy, invested $4.9 billion to modernize infrastructure and revive production.
This recovery allowed Algeria to recover additional production of 4.5 billion cubic meters of gas, thus consolidating its export ambitions.
A promising future for energy in Algeria
Algeria, which aims to produce 200 billion cubic meters of gas by 202750% of which is intended for export, positions itself as a key player in the global energy market.
With the entry of PTT, the country strengthens its attractiveness for international investors and its strategic role as a regional energy hub.
