StatoilHydro Makes Fourth Discovery in Hassi Mouina

Operator StatoilHydro and partner Sonatrach have completed the drilling and testing of exploration well number four in the Hassi Mouina license, in the Sahara desert in Algeria.

The partners have proven and tested gas in Lower Carboniferous and Upper Devonian sandstones.

"This is the fourth discovery in the Hassi Mouina license, and the encouraging results from the first four wells have given us valuable information about the resource potential in the block," says Bill Maloney, senior vice president for Global exploration (GEX).

The rig has been moved to the next location also situated in the southern part of the Hassi Mouina license, where the fifth well -- TNKW-1 -- is being drilled.

Further exploration drilling is needed in order to confirm the full potential in the license.

The Hassi Mouina license was awarded in June 2004. It comprises four blocks within a 23,000 square-kilometer area in the Gourara basin.

The area is located in the Western Sahara in Algeria, north-west of the In Salah gas field.

StatoilHydro has a 75% interest in Hassi Mouina. Partner Sonatrach has 25%.


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