New oil discovery in Algeria
Algeria’s state-owned oil and gas company Sonatrach, Anadarko Petroleum and partners Maersk Olie Algeriet and Eni-Lasmo Oil (Algeria) have announced an oil discovery on Block 404 of the Berkine Basin in Algeria.
The Sif Fatima South West (SFSW-1) discovery well is located 10 miles south of the recently announced discovery at Hassi Berkine North East (HBNE), seven miles east of the producing Hassi Berkine South East field and north-northeast of Sonatrach's discovery at Sif Fatima.
The well was drilled to a total depth of 10,637 feet and encountered 36 feet of net oil pay in the TAGI reservoir. It tested at a rate of 2,689 barrels per day of 47 degree API gravity oil and 4.72 million cubic feet per day of gas with a flowing tubing pressure of 1,414 psi.
"This new discovery, which follows around 10 other discoveries made during the last two years in Algeria, confirms the success of the policy adopted by Sonatrach in partnering with foreign companies in its upstream activities,” said Vice President, Exploration and Production of Sonatrach, Djamel Eddine Khene.
"Exploration activities undertaken with foreign partner associations in Algeria will practically triple in 2003 compared with 2002, and this is set to increase even further over the next few years. As part of this program, several blocks, including offshore exploration blocks, will be put out to tender," added Khene.
In January, Anadarko announced a $98 million capital spending program for 2003 in Algeria, which will focus primarily on exploration and development drilling.
In addition to the exploration wells planned on Blocks 404 and 208 during the year, Anadarko expects to drill or participate in 41 development wells. Seismic data that has been reprocessed and acquired over the last two years is currently being interpreted as part of the ongoing development of the prospect inventory. — (menareport.com)
© 2003 Mena Report (www.menareport.com)