Repsol makes Algerian gas discovery

Apr 09, 2013 12:00 AM

Repsol announced a natural gas discovery in Algeria.
According to the Financial Times, the natural gas was found in the Sud-Est Illizi block, near the Algeria-Libya border.

The TGE-1 well, owned by Repsol, discovered a 164 foot column of gas with preliminary testing producing gas flows at 8,300 cubic feet per day, the Financial Times reported.
The company made another gas discovery in the same block in November 2012, according to the report.

The additional discovery in the Sud-Est Illizi block will allow for more gas production and increase commercial viability for Repsol.
With a 25.7 percent stake, Repsol is the operator of the block. Enel, an Italian company holds a 13.5 percent stake, France's GDF Suez has a 9.8 percent stake and the Algerian state energy group Sonatrach holds the remaining 57 percent stake in the block.

The North Africa Post reported the commercialization process may be delayed for a while due to security issues.
Terrorists previously attacked the In Amenas gas plant, which is located near where Repsol made the recent natural gas discovery.

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