PTTEP encounters new oil field in Algeria

Thailand-based oil and gas exploration company PTT Exploration and Production (PTTEP) has discovered a new oil field from the sixth exploration well in Mouia Aissa-1 (MAS-1), in the Hassi Bir Rekaiz Permit in Algeria.

The company drilled the well on 11 November to a depth of 3,844m, and discovered petroleum in formation of Triassic Argilo Greseux Inférieur (TAG-I) reservoir.

Drill stem tests conducted in the well revealed crude oil flow at about 5,243 barrels per day and natural gas flow at about 5 million standard cubic feet per day, the highest flow rate so far discovered in the Hassi Bir Rekaiz Permit.

Located onshore in the Eastern part of Algeria, Hassi Bir Rekaiz Permit includes an area of 5,378km².

PTTEP is the operator and holds a 24.5% interest, while other companies participating in the project include SONATRACH and CNOOC, with a 51% and a 24.5% interest, respectively.

PTTEP plans to begin the first exploration phase of the Hassi Bir Rekaiz Permit and drill nine exploration wells by the early 2013.

Six exploration wells have been drilled currently, with five successful wells.

PTTEP also operates the Bir Seba field, 433a and 416b Permits in Algeria, which are currently in the development phase.

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Image: PTTEP discovers new oil field in Algeria. Photo: Courtesy of Jetset.