SONATRACH – Closing of the transaction between …

SONATRACH and ESSO Italiana (a wholly owned subsidiary of Exxon Mobil) have closed the transaction for the Augusta refinery. The focus of this transaction includes the Augusta refinery, the three oil terminals in Palermo, Naples and Augusta, as well as interests in pipelines linking the refinery to the various terminals.

SONATRACH RAFFINERIA ITALIANA Srl, the Italian refining subsidiary of SONATRACH Spa, becomes the owner of these assets from today.

The closing of this transaction follows a 6-month transition process that allowed SONATRACH to lift all suspensive conditions, including those related to anti-trust agreements.

Through this acquisition, the SONATRACH spa refining system will be reinforced with an additional refining capacity of 10 million tons of treatment per year and a storage capacity equivalent to an additional autonomy of 3 days of gas oil consumption and 3 days of consumption in gasoline.

The same acquisition will allow SONATRACH to meet its local gas oil and gasoline deficit and to sell surplus products in international markets.

About Sonatrach

SONATRACH is the Algerian National Society for Hydrocarbon Research, Production, Transport, Processing and Marketing.
SONATRACH is a major player in the service of meeting the domestic demand for energy. As the first oil company in Africa, SONATRACH is also a major energy supplier in the world.