Thailand’s state-run PTTEP has made a fresh oil discovery with the latest exploration well on its Hassi Bir Rekaiz permit in eastern Algeria.
Aissa-1 probe, drilled to a depth of 3844 metres, flowed at around 5243
barrels per day of oil and 5 million cubic feet per day of gas on testing of
the Triassic reservoir, the company said in a statement.
It was the
highest flow rate yet recorded and the fifth discovery out of six wells drilled
to date on the permit, operated by PTTEP with a 24.5% stake with state-owned
Sonatrach on 51% and remaining partner CNOOC Ltd on 24.5%.
partners are looking to drill a total of nine exploration wells by early 2013
and are now in the process of flow testing the seventh hole.