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  • CEPSA REPORTS GAS DISCOVERY IN ALGERIA
    édité le 03/12/2004 - Plus de news de "CEPSA" - Voir la fiche entreprise de "CEPSA"


CEPSA REPORTS GAS DISCOVERY IN ALGERIA
The consortium formed by the French oil company TOTAL and CEPSA has announced the discovery of natural gas in the Timimoun Basin, located 500 kilometres south of Hassi R’Mel in Algeria.

Drilling of the Iraharen 5 well, at a depth of 2,067 meters, yielded production test results of over 17.5 million cubic feet per day of dry gas. Further work is now being conducted to more accurately appraise the potential of this well and the field as a whole.

TOTAL is the operator of the Timimoun Block, with a 63.75% stake, in partnership with the Algerian national oil company Sonatrach, which holds 25%, and CEPSA, with an 11.25% interest.

The TOTAL/CEPSA consortium was also awarded an exploration permit in 2003 in the Béchar Block, located northwest of Timimoun, and is looking into the possibility of taking part in new bidding rounds in the region.

CEPSA’s target of producing gas in Algeria is part of its strategy of advancing its activities in the natural gas segment and is synergistic with its MEDGAZ project, a venture promoted by CEPSA and Sonatrach, with shareholdings of other major energy companies including TOTAL, that will shortly begin construction of a new gas pipeline linking Algeria and Europe via Spain.

CEPSA has been operating in Algeria since 1996, under a production-sharing system, in the Rhourde El Khrouf (RKF) field located in Block 406A of the Algerian Sahara’s Berkine Basin in the southeastern part of the country. CEPSA also has a stake in the Ourhoud field which straddles three licenses - Blocks 404, 405 and 406A - and came on stream in December 2002. The company’s gross production from both fields presently amounts to 114,000 BOPD.


Origine : Communiqué CEPSA

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