(Finance) – Eni and Sonatrach (Algerian state company) have made aimportant discovery to oil and associated gas in the Zemlet el Arbi concession, in the North Berkine basin in Algerian desert. The concession is operated by the joint venture between Eni (49%) and Sonatrach (51%). Preliminary resource estimates for this new discovery amount to approximately 140 million barrels of oil in place. The two companies will start studies and analyzes to accelerate the production phase, through a fast-track development expected to start in the third quarter of 2022, explains a note from the Six-legged Dog.
The exploration well that led to the discovery was drilled on the HDLE exploration prospect, located 15 km from the Bir Rebaa Nord (BRN) treatment center. HDLE-1 discovered light oil in the Triassic arenaceous levels of the Tagi formation encountering 26 meters of mineralized net thickness with excellent petrophysical properties. During the production test, the well delivered 7,000 barrels / day of oil and 140,000 cubic meters / day of associated gas. The HDLE-1 well is the first well of the new exploration campaign which involves the drilling of 5 wells in the North Berkine concessions.
The discovery will be the subject of an accelerated delineation program which involves the drilling of a second well, HDLE-2starting from April 2022 to test the additional potential of the structure which also extends into the adjacent concession of Sif Fatima 2, also operated by Eni (50%) in a JV with Sonatrach (50%).