On November, 15, 2003, within the framework of the petroleum "245-South" block’s development in Algeria the "Rosneft – Stroytransgaz Limited" company started drilling of the first test borehole "Takuazet East-1". The contractor of drilling on turnkey basis is a Swiss company "Shlumburger".
Tuesday, November 18, 2003
On November, 15, 2003, within the framework of the petroleum "245-South" block’s development in Algeria the "Rosneft – Stroytransgaz Limited" company started drilling of the first test borehole "Takuazet East-1". The contractor of drilling on turnkey basis is a Swiss company "Shlumburger".
At present the drilling at the field goes on. Its results will help to estimate the commercial profitability of the project and field’s capacity.
In April of the present year "Rosneft – Stroytransgaz Ltd." has completed the seismic exploration in the area. It is planned, that the investments into exploration activities at the starting stage, which envisages carrying out of seismicity study and drilling of two wells, will make about USD 18 million.
The "245-South" block is located in the East of Algeria in petroliferous basin Illizi. The area of the block is 6 548 sq. km.
The Russian consortium "Rosneft – Stroytransgaz" has won an international tender on prospecting, development and production of hydrocarbons in the "245-South" block on March of 2001.
The product sharing agreement on development of the block between "Rosneft – Stroytransgaz Limited" and the National Oil-and-Gas company “Sonatrach” acting on behalf of Algerian Government has come into force on May, 13, 2001.
