Sonatrach increases its participation in Camisea project

National petroleum company Sonatrach and Peruvian oil company PlusPetrol signed, in Lima (Peru), the codicil to the contract on block 88, according to a communiqué issued by energy and mining ministry. This codicil is centred on the participation by Sonatrach of 10 % of gas deposits of Camisea (upstream) and the increase of 10 % of its participation in the transport by pipe (downstream).
The signing ceremony of this codicil took place in the presence of the energy and mines minister, Mr Chakib Khelil, in a visit to Peru from October 31 to November 3 and his Peruvian counterpart, Mr Hans Flury. The document was signed by Sonatrach managing director, Mr Mohamed Meziane and the PlusPetrol one, Mr Luis Ray.

During his stay in Peru, the Algerian delegation led by Mr Khelil went to the site of the "Camisea" deposit as well as to Pisco where the installations of separation and stocking are situated in order to note the development of works of achievement. The gas deposit of condensates of Camisea will be put in production by the end of the first semester 2004 with a production of 35.000 bpd of condensates and LPG and 5 bn of cmpy of natural gas.
The unity of separation of Pisco will produce diesel oil, naphtha, butane and propane destined to the internal market and to export. The minister was received during his stay in Lima by the president of the republic of Peru, Mr Toledo, and expressed to him the "message of friendship " of the president of the republic, Mr Abdelaziz Bouteflika and "his will to reinforce co-operation between the two countries ", according to the same source.

Mr Khelil has also held a working session with his Peruvian counterpart in the presence of the Algerian delegation during which they have examined "the excellent relations between the two countries particularly in the sector of hydrocarbons " as they dealt with the possibility of their extension.