BP Awarded Three Algerian Exploration Blocks
BP has been awarded three blocks in Algeria's sixth international licensing round. Two of the blocks, South East Illizi and Bourarhat, are located in the Illizi basin close to the In Amenas project that BP is currently developing. The third block at Hassi Matmat in the Benoud basin lies some 160 kilometers northeast of the giant Hassi R'Mel gas condensate field.
The awards were made today after a public opening of bids as part of the sixth exploration license round in Algeria.
An exploration program consisting of seismic and wells will be conducted on each of the blocks.
Ian Smale, President of BP North Africa, said: "We are very pleased to have been awarded these new licenses. We have a long and successful history of working with Sonatrach in Algeria, and are delighted to have this opportunity to further grow our business."
The Contracts are subject to formal approval by the Algerian authorities.
BP is currently involved in two major gas projects in Algeria,
in partnership with Sonatrach and Statoil. The In Salah
project came on stream in July 2004, and the In Amenas project
is due onstream in late 2005/ early 2006. Each are set to
produce some 9 billion cubic meters a year of gas and
associated liquids. BP and Sonatrach also operate the Rhourde
el Baguel oilfield.
Operates 32 Offshore Rigs
- Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
- Owners of Louisiana-Illinois Pipeline Eye Reversal Next Steps (Dec 21)
- Canadian Offshore Oil Interest Grows As Pipeline Woes Sink Alberta Prices (Dec 20)
Company: Sonatrach more info
- Algeria Sends More Oil To Cuba As Venezuelan Supplies Fall (Jan 10)
- Algeria's Shale Gas Plans Will Take Time, Require Tough Reforms (Dec 29)
- Algeria's Sonatrach Chief Urges Oil Industry Reforms (Sep 18)