Total and Cepsa to drill for oil in Algeria

Dec 29, 2003 01:00 AM

French oil group Total and Cepsa, the Spanish oil company in which the former holds a stake, have paid $ 8.5 mm for a permit to drill for oil in the Bechat region in south-western Algeria.
A consortium between Spanish oil group Repsol, Italian company Edison and German utilities group RWE has paid $ 22.5 mm for a similar permit in Algeria.

Source: The Financial Times
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