Rapsol, a Spanish oil and gas company has announced three new discoveries in the Reggane, the Ahnet and the Berkine Basins in the Sahara desert in Algeria with a potential of 813 million cubic feet of net reserves.
According to the company’s statement published on its website, the initial testing of the fields showed a preliminary output of 35.3 million cubic feet per day, which the company said it is an indication of a high potential.
Repsol said the Reggane basin is a major driver for future growth and its holdings add up to total net reserves of 145 million barrels reserves.
The region in the western portion of Algeria is one of Repsol's areas of greatest potential growth, as outlined in the company's 2008-2012 strategic plan documents.
The consortium secured exploration rights during the 2002-03 Algerian bidding rounds. During 2005-07, three discoveries were made in Reggane.
The Algerian government in 2002 and 2003 awarded the Spanish company the rights to explore the fields along with its consortium partners, Algeria's state-owned Sonatrach, Germany's RWE DEA and Italy's Edison S.p.A.
Repsol operates the consortium with a 33.75 percent stake and RWE Dea has a 22.5 percent interest. Other partners are Sonatrach with 25 person and Edison SPA with 18.75percent.
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