International consortium makes oil discovery in Algeria
Anadarko Petroleum Corporation, Sonatrach and partners Maersk Olie Algeriet and Eni/Lasmo Oil announced an oil discovery at the Hassi Berkine North East prospect on Block 404 in Algeria.
The exploration well HBNE-1 was drilled to a total depth of 3,300 meters at a location five kilometers east of the Hassi Berkine field. The well encountered 16 meters of net oil pay in the TAGI reservoir, and has tested at a rate of 4,092 barrels of oil per day and 6.7 million cubic feet per day of gas through a 36/64 inch choke at a flowing tubing pressure of 2201 psi.
The Sonatrach/Anadarko Association has discovered over two billion barrels of oil since the production sharing agreement was signed in 1989. Under terms of the agreement, Anadarko and its partners fund Sonatrach's 51 percent share of exploration costs and are entitled to recover these costs out of production in the exploitation phase.
Anadarko Petroleum is one of the world's largest independent oil and gas exploration and production companies. Houston-based Anadarko is active in the US, Canada, Algeria and Qatar and is executing strategic exploration programs in several other countries. — (menareport.com)
© 2003 Mena Report (www.menareport.com)