M a r k e t N e w s

Algeria: Sonatrach to Carry Out First Offshore Drilling End 2015

Posted on : Friday, 31st October 2014


Algiers — The national hydrocarbon group SONATRACH will carry out first offshore drilling by the end of 2015, announced Wednesday its interim CEO, Said Sahnoun, at the signing ceremony of contracts of the 4th invitations to tender for hydrocarbon explorations.
SONATRACH, which stepped up its exploration operations, "intends to drill its first offshore well by the end of 2015," said Sahnoun.
The oil group will carry out its first offshore drillings in the provinces of Oran (432-km west of Algiers) and Bejaia (265-km east of Algiers), chosen as offshore exploration areas after the seismic surveys on their territorial waters, said recently executives of the group.
The first drilling will be carried out by SONATRACH alone or in partnership but the decision will be made by the Ministry of Energy.
In Algeria, the offshore areas likely to contain hydrocarbon potentials are at depths between 2,000 to 2,500 metres, according to the results of the first seismic surveys conducted on the Algerian offshore.
An offshore drilling operation costs about US$ 100 million.

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