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Thailand's national petroleum exploration and production company PTTEP announced on Tuesday the successful completion of its investment in the Touat Project, a natural gas-producing field located in Algeria’s onshore Timimoun Basin.
The investment was made through the purchase of a 34 percent shareholding in E&E Algeria Touat [from Engie International Corporation], the company said in a press statement.
The statement said the transaction was finalised on 2 September 2025, giving PTTEP an indirect 22.1 percent interest in the Touat Project.
Operating under a Production Sharing Contract (PSC), the Touat Project currently produces approximately 435 million standard cubic feet of gas per day (MMSCFD), with potential for further production ramp-up in the coming years.
PTTEP stated that the investment will deliver immediate revenue, increase production volumes and petroleum reserves, and support future growth.
The financial details of the transaction weren't disclosed.
The remaining interests in the project are held indirectly by ENI and Sonatrach.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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