French energy group Total, Algeria's Sonatrach sign new agreements

PARIS: French energy group Total and Algerian state-owned Sonatrach have signed new agreements, including a contract to develop the Erg Issouane gas field and plans to create a joint venture, Total said.

Sonatrach and Total will develop the reserves of Erg Issouane, located on the TFT Sud permit in Algeria, estimated at more than 100 million barrels of oil equivalent.

The two companies will also create a joint venture known as STEP .