Petronas To Begin Algerian Drilling Campaign in 2003

Petronas is planning to drill four wells in the Ahnet Gas Field in Algeria during the first quarter of 2003 after seismic surveys have been completed. The company is planning to drill three exploration wells and one appraisal well. First production from the Ahnet field is expected during 2007.

Partners in the field are Petronas with 45%; Sontrach with 30% and Gaz de France with the remaining 25%. The Ahnet field is located approximately 879 miles southwest of Algiers and covers seven blocks. Proven and probable reserves are estimated at 5 trillion cubic feet of natural gas.