Spanish Firm Wins Gas Contract in Algeria
2004-11-19
 [Getty Images] |
According to Al-Bayan newspaper, the Spanish Gas-Natural Group announced that it would invest 1.628 billion euros to exploit a number of gas fields in eastern Algeria, along with Spanish Repsol YPF Oil Group. The Spanish outbid British Petroleum (BP), Total/Shell and Eni/Anadarko for the gas-integrated Gassi Touil-Rhourde-Nouss project.
Gassi Touil's gas-integrated project, which covers exploration, development, liquefaction and commercialisation activities, concerns the drilling of 52 development wells, production sharing of 16 existing wells and surface installations for treatment. The project will be executed within 48 months with production planned by September 2009. (menareport.com)
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