Sonatrach terminates Ain Tsila field contract with Sunny Hill Energy 16 April 2021 (Last Updated April 16th, 2021 16:04)
Algerian national energy company Sonatrach has seized Sunny Hill Energy’s 38.25% stake in the Ain Tsila gas field in south-east Algeria.
Sunny Hill Energy is seeking over $1bn in compensation from Sonatrach. Credit: Anita starzycka / Pixabay.
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Algerian national energy company Sonatrach has seized Sunny Hill Energy’s 38.25% stake in the Ain Tsila gas field in south-east Algeria.
Sunny Hill Energy, formally Petroceltic International, held a contractual interest in the asset through its wholly owned subsidiary Petroceltic Ain Tsila.
Sonatrach terminated the contract without offering any compensation saying Petroceltic failed to fulfil the contractual obligations.
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