Edison sells stake in Algeria gas field to Repsol, Wintershall Dea

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MILAN, June 29 (Reuters) - Edison (EDNn.MI) will sell its 11.25% stake in the licence for Algeria's North Reggane on-shore gas field to Spain's Repsol (REP.MC) and Germany's Wintershall Dea, the Italian energy company said.

The deal, worth $100 million, confirms Edison's exit from exploration and production activities, the group said in a statement on Wednesday.

Repsol will buy 6.75% of the gas field and Wintershall Dea will get 4.50%. The deal comes after an exclusive contract between Edison and Wintershall Dea in May was modified after Repsol exercised its right of pre-emption.

Repsol and Wintershall Dea did not immediately respond to requests for comment outside normal business hours.

The North Reggane field started its production stream in 2017. It currently consists of 19 productive wells that provide approximately 2.8 billion cubic metres of gas per year, which are sold entirely to Algeria's Sonatrach based on a long-term contract.

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Reporting by Francesca Landini; Editing by Josie Kao

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