Total-Led Consortium Snaps Up Interest in Algerian Ahnet License
Total announced that the consortium it has formed with Partex has been awarded a 49% interest in the Ahnet license, as part of the second bid round held by the Algerian National Oil and Gas Development Agency (ALNAFT).
Located near In Salah in southwestern Algeria, the Ahnet exploration and development acreage covers an area of 17,358 square kilometers in which twelve natural gas formations have already been discovered.
Total holds a 47% interest and will appraise and develop the Ahnet finds with partners Partex (2%) and Sonatrach (51%).
A development plan will be submitted for approval before mid 2011, with first gas scheduled for 2015. The Ahnet license contains significant reserves (approximately 500 billion cubic meters of gas) which should produce at least 4 billion cubic meters a year, as per the contract with Sonatrach.
This latest project is a developmental milestone in the new southwestern Algeria gas province, which is also home to the Timimoun project operated by the consortium Sonatrach, Total and Cepsa. It further cements Total's commitment to investing in Algeria in both the natural gas upstream and petrochemicals.
Total Exploration & Production in Algeria
Total's production in Algeria comes from direct interests in the Tin Fouyé Tabenkort gas field, and from the Group’s 48.83% stake in CEPSA, which is partnered with Sonatrach on the Ourhoud and Rhourde El Krouf fields.
- Total CEO: US Shale Oil Industry To See Wave Of Investment (Oct 18)
- Total's CEO Says Will Try To Move Ahead With Iran Gas Project (Oct 17)
- Total Expands Presence in Mexico (Oct 12)
Company: Sonatrach more info
- Algeria's Sonatrach Chief Urges Oil Industry Reforms (Sep 18)
- Algeria's Sonatrach To Boost Output From Rhourde El Baguel Field (Sep 18)
- Total Signs New Deal With Algeria's Sonatrach And Settles Earlier Disputes (Apr 10)
Company: CEPSA more info
- Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects (Jan 03)
- Algeria Oil And Gas Output On The Rise (Jun 26)
- CEPSA Commences Drilling at Tarach-1 in Kenya Block 11A (Apr 15)
Company: Partex Oil and Gas more info
- Total-Led Consortium Snaps Up Interest in Algerian Ahnet License (Dec 22)
- Gardenia Prospect Offshore Angola Blooms for Total (Oct 23)
- Total Secures Long Term Partnership in Abu Dhabi's Gasco (Apr 01)