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StatOilHydro & Sonatrach Make 5th Gas Discovery in Algeria

08-07-2008

StatoilHydro with its partner Sonatrach, has made a fifth discovery in the Hassi Mouina license in the Sahara desert in Algeria.

The existence of gas was confirmed in exploration well TNKW-1 in the southern part of the license.

”This is an interesting discovery and shows that there is a resource potential in the Hassi Mouina license,” said Alf Henry Meland, the head of exploration in Algeria.

The Hassi Mouina license was awarded in June 2004. It includes four blocks within an area of 23,000 square kilometers in the Gourara basin. 30% has now been relinquished to the Algerian government in accordance with the license agreement.

The area is located in the western part of the Sahara in Algeria, northwest of the In Salah gas field, where StatoilHydro has a 31.85% interest.