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From Energy - Mining / Metals

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Commitment

Repsol makes a gas discovery in Algeria

Thu, 8 Nov 2012 11:54:34 EST

* The find in the Tihalatine South-1 (TIHS-1) well is the first in the Sud-Est Illizi block in the current exploration campaign.
* Repsol (25.725%) is the operator of the consortium which has made the discovery, partnered by Enel SpA (13.475%) and GDF Suez (9.8%). The remaining 51% is held by Sonatrach, the Algerian State Company.
* In Algeria, Repsol is participating in two producing projects (Issaouane and Tin-Fouye Tabankort), one development project (Reggane Nord) and in exploration (SE Illizi).


Repsol has made a gas discovery in the Illizi basin, in the south east of Algeria. The find in the Tihalatine South-1 well (TIHS-1) is the first made in the Sud-Est Illizi block in the current exploration campaign.

The consortium led by Repsol won the Sud-Est Illizi block in 2010. Repsol is the operator of the consortium, with a 25.725% stake, partnered by Enel SpA (13.475%) and GDF Suez (9.8%). The remaining 51% is held by Sonatrach.

The discovery was made at a depth of 1,073 metres and preliminary testing produced gas flows of 105,000 m³/day. The joint venture will drill four more wells as part of its exploratory program in the area.

Repsol in Algeria

Repsol has been present in Algeria since 1973. Since 2008, Repsol has a permanent office in Algiers to support its growing activity in that country and strengthen the company's links with government authorities and institutions as well as with partner Sonatrach. Repsol has progressively increased its presence in Algeria through active participation in successive bidding rounds that have taken place in recent years.

Currently, Repsol is involved in two producing projects (Issaouane and Tin Fouye Tabankort), a development project (North Reggane) and an exploratory project (Sud Est Illizi) awarded in 2010.

Repsol currently produces around 50,000 barrels of oil equivalent per day in the North of Africa.


Source: WebWire



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