Statoil updae on hassi mouina well in algeria

Statoil : Update on Hassi Mouina Well in Algeria

Statoil 06-22-2007

Statoil and partner Sonatrach have completed and tested exploration well number two in the Hassi Mouina license, in the Sahara Desert in Algeria. The partners have proven and tested gas in sandstones of Devonian age in the Hassi Tidjerane West (HTJW-1) well.

In March this year, both companies completed drilling operations in the first exploration and appraisal well, Hassi Tidjerane 2 (HTJ-2). "We are satisfied with the drilling operation and the result from the well," says Bill Maloney, senior vice president for global exploration (GEX).

The partners have now completed their license obligations. "Results from the first two wells give us valuable information. However, it is still early days and we will continue our license exploration program in order to further map the resource potential in the block" he says.

The next location for the rig is Tinerkouk (TNK-1) south in the license, where a third well will be drilled. The Hassi Mouina license was awarded in June 2004. It comprises four blocks within a 23,000 square-kilometer area in the Gourara basin, an area equivalent to half the size of Denmark. The area lies in the western Sahara in Algeria, northwest of the In Salah gas field in which Statoil has a 31.85% interest.

Statoil has a 75% interest in Hassi Mouina. Partner Sonatrach has 25%.