Arco has two wells left to drill on its current five-well exploration programme, located on the Hassi Bir Rekaiz block in the eastern part of the country. The Los Angeles-based explorer holds a 75% working interest in Hassi Bir Rekaiz under a 1992 production sharing contract with state outfit Sonatrach.
Arco strikes in Algeria
ARCO has struck lucky in its Ghadames basin acreage in Algeria. The Semhari-1 well tested 1539 barrels per day of oil from two zones but further probes will be needed to determine the find's commercial prospects, the company said.
2 August 1997 0:00 GMT
Updated
2 August 1997 0:00 GMT