Tuesday, 26 June 2012

Algeria: Sonatrach to explore Algerian offshore

Speculation about possible exploration off Algeria's Mediterranean coast revived in late May after Sonatrach PDG Abdelhamid Zerguine announced that the company would start exploring in the Annaba offshore area that borders Tunisian waters. “Sonatrach has acquired geophysical data for the coast of Annaba and the decision to explore is already taken,” he said.

The plan is in line with Algiers' policy to diversify its exploration efforts and boost conventional hydrocarbons reserves. While Sonatrach has pledged to drill its first offshore well in 2013, a firm programme is to yet to be drawn. In March last year, the head of the exploration division at Institut Algérien du Pétrole (IAP), Djamel Bekkouche, vowed that work would kick off in 2011. The exploration licence for the offshore Bejaïa-Annaba perimeter (blocks 144-A and 145) was however granted to Sonatrach only last December by Agence Nationale pour la Valorisation des Ressources et Hydrocarbures (Alnaft).

Prospecting activities are also expected in waters adjacent to the wilaya of Jijel, which is part of the Bejaïa-Annaba perimeter. The overall area of coastal strip to be opened for exploration is estimated at 5,000km².

For more news and expert analysis about Algeria, please see Algeria Focus and Algeria Politics & Security.

© 2012 Menas Associates

No comments:

Post a Comment