Spanish oil and gas company Repsol has announced a new gas discovery in Algeria. The gas discovery in the Ahnet basin, to the east of the prolific Reggane basin, confirms the potential of the area and offers new development possibilities.
Repsol operates the development consortium with a 33.75% stake. Algerian state-owned Sonatrach controls 25%; RWE Dea owns 22.5% and Edison has 18.75%.
The oil company and its partners won exploration licenses for the Reggane and M’Sari Akabli blocks in bidding rounds held in 2002 and 2003 by the Algerian government.
It has said that the gas was found in a well drilled to a depth of 2,135m in the M’Sari Akabli permit. Initial tests show production at the TGFO-1 well to be 363,000 cubic meters per day in the Emsian Layer with a 32/64-inch choke and wellhead pressure of 2,114psi.
According to the company, it has quadrupled its contingent resources of hydrocarbons in the last two years through its exploratory success, demonstrated by its participation in three of the world’s ten largest discoveries in 2008 and the start-up of new production in Libya and Gulf of Mexico. During the first quarter of 2009 Repsol found oil and gas in the five key areas identified in its 2008-2012 Strategic Plan, claims the company.
