StatoilHydro Completes Well in Algeria

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

The partners have proven and tested gas in Tournaisian sandstones in the Tinerkouk well (TNK-1).

"This is the third positive well drilled in the Hassi Mouina licence, and the wells give us valuable information on the resource potential in the block," says Bill Maloney, senior vice president for global exploration (GEX).

The rig has moved to the next location where the fourth exploration well, TMS-1, is being drilled. Several appraisal wells will also be drilled on the earlier discoveries to quantify the volumes with greater certainty.

The Hassi Mouina license was awarded in June 2004. It comprises four blocks within a 23,000-square-kilometer area in the Gourara basin and is located in western Sahara in Algeria, northwest of the In Salah gas field. StatoilHydro has a 75% interest in Hassi Mouina; Sonatrach holds the remaining 25% interest.