A regular meeting on the Operating Committee of the implementation of the joint Russian-Algerian Project in the El Assel oil and gas bearing area was held on 16 October in Algiers, the capital of the Algerian People's Democratic Republic.
Specialists from Gazprom International, which is the operator of the Project, and Sonatrach, the Algerian state-owned oil and gas corporation which is the partner and co-investor, took part in the work of the Committee.
The parties discussed the current state of the Project, endorsed the program of further works and approved the budget for the next year.
The meeting noted that in June 2012, the Project entered the third and final phase of exploration works. Since the launch of the Project in 2009, Gazprom International provided the implementation of 3D seismic in the area over 2700 km², processing and interpretation of the data acquired, and drilling of four prospecting wells.
In third phase of the Project it is planned to implement 3D seismic in the area of 150 km² and drill one prospecting and several exploration wells.
Gazprom International, the sole operator of Gazprom overseas projects on prospecting, exploration and development of hydrocarbon fields, joined the El Assel Project in May 2012 with a 49 % share. The other 51 % are owned by Sonatrach, the Algerian state-owned oil and gas company.
The Gazprom International Branch Office in Algiers and Operating Office in the town of Hassi Messaoud have been created for implementation of the Project.
The El Assel license area of is located in the Berkine oil and gas basin and consists of three block with a total initial area of 3259 km². The Rhourde Sayah oil and gas field was discovered in 2010 as the result of the construction of RSH-2 well. The El Assel area also is the location of Zemlet Er-Rekkeb, the earlier discovered field.