Hassi Bir Rekaiz Project JV to Submit Development Plan in 2017

Source: www.gulfoilandgas.com 8/16/2016, Location: Africa

National Company for Exploration, Production, Transport and Commercialization of Hydrocarbons “SONATRACH” and its partners PTT Exploration and Production Public Company Limited (Thailand) or PTTEP and CNOOC Limited (China) announced the successful completion of a drilling campaign, in the Hassi Bir Rekaiz Permits in Algeria which has been conducted since 2011.

The Bou Goufa-2 (BOG-2) in Bou Goufa - Rhourd Ez Zita discovery area which is the last appraisal well of this campaign found crude oil and associated gas flow at a very satisfactory rate after it was drilled to a total depth of 4,064 meters at the end of April 2016. A Drill Stem Test (DST) was conducted and showed flow rates in the Triassic Argilo Greseux Inférieur (TAGI) formations of crude oil flow at an average of approximately 2,406 barrels per day (BPD) and associated gas flow at approximately 2.9 million standard cubic feet per day (MMSCFD). These results confirmed the commercial potential of petroleum in this area.

Somporn Vongvuthipornchai, President and CEO of PTTEP said “PTTEP has achieved great success and is very satisfied with the significant results of the drilling campaign in Hassi Bir Rekaiz. PTTEP and our partners will prepare and submit the field’s development plan to the Algerian Authorities in early 2017 for approval.

Hassi Bir Rekaiz is located onshore in the Eastern part of Algeria. It covers an area of 2,686 square kilometers. PTTEP is the operator during the exploration period with 24.5% interest. Its joint venture partners are SONATRACH, the Algerian National Oil and Gas Company with 51% interest, and CNOOC Limited, with 24.5% interest.

Apart from the Hassi Bir Rekaiz project, PTTEP also has another project in Algeria - the Algeria 433a and 416b project, carried-out by its subsidiary, PTTEP Algeria Company Limited - which commenced oil production from the Bir Seba field in October 2015.




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