The companies are together studying LNG project in Gassi Touil area
The Algerian Ministry of Energy and Mining has awarded the Repsol YPF -Gas Natural SDG consortium an oil and gas exploration block corresponding to the Gassi Chergui Ouest zone, in the western part of the Berkine basin.
This block, which covers 4,831 square kilometers and is in the east of Algeria, is near Gassi Touil-Rhourde Nouss where the Repsol YPF - Gas Natural consortium is interested in developing together an LNG project .
Repsol YPF holds the mining rights to 3 exploration blocks and 2 fields in production in Algeria. Net production in 2003 was 10.1 million barrels oil equivalent, with net proved reserves of liquids and natural gas estimated around 82.7 Mboe.
Repsol YPF´s activities in Algeria forms part of the Company´s strategy to diversify geographically its production and reserves, and aims to increase gas reserves to meet the growing demand from the Spanish market.