RepsolYPF To Exploit Fully Reggane Prospect

April 2006 | Company News Alert

Spanish-Argentine concern RepsolYPF harbours high hopes for its Algerian Reggane concession, with plans to drill eight more wells this year and next following the discovery of natural gas in the basin in early April. Repsol has a 33.75% interest in the consortium which made the discovery, with Algeria's Sonatrach holding a 25% stake, Germany's RWE Dea holding 25% and Edison SPA holding an 18.75% interest. Initial tests at the two exploratory wells yielded close to 740,000 cubic metres of gas per day. Repsol's commitment to the North African country is growing, with the firm recently launching with Spain's Gas Natural

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