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PTTEP & partners discover new oil field in Algeria

ALGIERS -- PTTEP and its partners have discovered new oil field from the 6th exploration well Mouia Aissa-1 (MAS-1) drilled in Hassi Bir Rekaiz permits in Algeria.

The well was drilled to a total depth of 3,844 m on November 11, 2012 and yielded the petroleum discovery in formation of Triassic Argilo Greseux Inferieur (TAG-I) reservoir. The flow test that is drill stem test was conducted and discovered the crude oil flow at approximately 5,243 bpd and natural gas flow at approximately 5.0 MMscfd, the highest flow rate that has ever been discovered in Hassi Bir Rekaiz permits.

PTTEP and its partners have planned in the first exploration phase of Hassi Bir Rekaiz permits to drill nine exploration wells during late 2011 to early 2013. At present, six exploration wells were completely drilled with five successful wells. PTTEP and its partners are now on process of flow testing the seventh exploration well.

Hassi Bir Rekaiz permits are located onshore in the eastern part of Algeria. It covers an area of 5,378 sq km. PTTEP is the operator with 24.5% interest. Its joint venture partners of this project comprise of Sonatrach with 51% interest and Cnooc with 24.5% interest.

Apart from Hassi Bir Rekaiz, PTTEP also jointly operates the Bir Seba field, in Algeria 433a & 416b permits in Algeria, which are currently under the development phase.



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