Awarded new block in Algeria

July 28, 2004, 17:10 CEST

Statoil has been awarded operatorship for the Hassi Mouina gas block in Algeria. The group gets a 75 per cent share of the block.

Algerian national oil and gas company Sonatrach gets a 25 per cent share. The block covers an area of 22,993 square kilometres 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 programme in the three-year mandatory exploration phase covers two wells and 400 kilometres of 2D-seismic.

In addition, Statoil will agree with Sonatrach on an appraisal programme for the discovery. The optional exploration phase is two years and covers one well and 100 kilometres of 2D-seismic.

Hassi Mouina lies near the In Salah gas project where Statoil has a 31.85 per cent interest.