CEPSA has signed an agreement with the Algerian national oil company Sonatrach to extend the association contract for the RKF field operation for an additional five-year period.
The renewal of this agreement marks a further step in the close ties and strategic partnership forged between both companies, involving joint projects, not only in the area of oil and gas exploration and production, but also gas retailing and cogeneration activities in Spain, and leadership of the MEDGAZ pipeline project.
The RKF field is operated by CEPSA and was placed on-stream in 1996. Last year, it yielded an average of 20,000 BOPD of high-quality Saharan Blend crude oil. The development plan approved by Sonatrach and CEPSA will enable maintaining the aforementioned production level during the entire extension period of the contract.
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