Norwegian oil and gas company Statoil will operate for the Hassi Mouina gas block in Algeria, since the company has won the tender for it. The group gets a 75 percent share of the block. Sonatrach, Algerian national oil and gas company gets a 25 per cent share.
The block covers an area of 22,993 square kilometers of the Timimoun Basin. Sonatrach has already drilled one well in the block and made a gas discovery which Statoil will be allowed to develop.
The work program in the three-year mandatory exploration phase covers two wells and 400 kilometers of 2D-seismic.
Moreover, Statoil will agree with Sonatrach on an appraisal program for the discovery. The optional exploration phase is two years and covers one well and 100 kilometers of 2D-seismic.
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Statoil, Sonatrach To Jointly Operate For Gas Block
Norwegian oil and gas company Statoil will operate for the Hassi Mouina gas block in Algeria