PTTEP and CNOOC Successful Bidders in Algeria Round

Source: www.gulfoilandgas.com 12/21/2009, Location: Africa

PTT Exploration and Production Public Company Limited, or PTTEP, wishes to announce that PTTEP Algeria Company Limited (PTTEP AG), a subsidiary of PTTEP, together with CNOOC International Limited, have been selected as the successful bidders of block Hassi Bir Rekaiz in Algeria 2009 Bid Round.

The consortium consists of PTTEP AG (the Operator) and CNOOC International Limited with the participating interests of 50% and 50% respectively. Block Hassi Bir Rekaiz is located in the Southeast Zone of Algeria with the approximate area of 5,670 square kilometers. It is approximately 115 kilometers east of the Bir Seba oil field, which is being jointly developed by Sonatrach (Algeria’s national oil company), PTTEP, and PetroVietnam Exploration and Production Corporation (PVEP).


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