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Eni Awarded Exploration Licence in Algeria

Source: www.gulfoilandgas.com 12/13/2008, Location: Africa

Eni has been awarded the Kerzak exploration license, in southwest Algeria, following an international bid round launched by the Algerian National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT).

The high potential Kerzak license, with and extension of 16,000 squared Km in concession regime, is located in the Timimoun Basin, 400 km south east of the giant Hassi R'Mel field.

Following the acquisition of First Calgary Petroleum, the award of the Kerzak block further strengthens Eni's presence in the Country and confirms the high oil potential of the Algerian sedimentary basins.

Eni has been present in Algeria from 1981. Eni's current equity production amounts to 84,000 barrels per day. In Algeria Eni holds interests in 24 licenses already in production and in 8 licenses under development.

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