CEPSA has been granted one of the two oil and gas xploration
licenses awarded by Algeria’s National Agency for the Valuation of Hydrocarbon Resources (ALNAFT) during a bid round hosted by Algeria on a total of 10 blocks spread out over 5 different basins in the country.

The block awarded to CEPSA, Rhourde Rouni, covers an area of 3,034 km² and is located in the Berkine Basin, 100 km northeast of the RKF field operated by the Company. The concession, granted for a 32-year period, will enable CEPSA to undertake the initial exploration work for a maximum period of 7 years. The envisaged work program for the first 3 years involves performing high-resolution 3D seismic surveys on 2,150 km² and drilling 6 exploratory wells with the main target in the Triassic (TAGI) formation at a depth of 3,000 meters as well as deeper secondary targets.

CEPSA’s bid relied on a number of strengths, such as its long and prestigious track record as an operator and technical know-how and experience in the Berkine Basin.

CEPSA has been present in Algeria since 1992, with investments exceeding $1,000 million, and operates the RKF and Ourhoud fields jointly with the Algerian national oil company Sonatrach, yielding a total output of approximately 240,000 BOPD. The Company is also developing the Timimoun gas field in a consortium which includes Sonatrach and the French energy firm Total. With this new license for the Rhourde Rouni Block, CEPSA will further strengthen and enhance its position as one of the leading operators in Algeria.