Madrid, Spain-based Repsol said March 20 that it discovered gas in the Tan Emellel Sud-Ouest-2 (TESO-2) exploration well in the Sud-Est Illizi Block in Algeria. It is the third find in the block, in southeast Algeria’s Illizi Basin, the company added.
In Algeria, Repsol works on the Tin-FouyéTabankort project, the Reggane Nord development project and Sud-Est Illizi and Boughezoul. The newest discovery is the continuation of an exploration campaign in the high-potential area.
The gas was found at 1,307 m (4,288 ft) and well testing delivered a gas flow rate of 175 Mcm/dand 90 bbl/d of condensate with a 32/64-in. choke. Repsol will drill at least four more additional wells in order to appraise the previous discoveries within the block, the company said.
Repsol operates the consortium with a 52.5% stake in partnership with Enel (27.5%) and GDF-SUEZ (20%). Sonatrach will hold a 51% stake in the development and production phases, with the existing members maintaining their existing proportions in the remaining 49%.
Repsol currently produces about 8 Mboe/d in the country.
Source: Repsol
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-26 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Initiative Equity Partners Acquires Equity in Renewable Firm ArtIn Energy
2024-04-26 - Initiative Equity Partners is taking steps to accelerate deployment of renewable energy globally, including in North America.
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Ithaca Deal ‘Ticks All the Boxes,’ Eni’s CFO Says
2024-04-26 - Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.