Petrovietnam Exploration & Production Corporation has made a further discovery in the Touggourt area of Algeria.
The MOM-3 exploration well on block 433a yielded a flow of 800 barrels a day of oil and about one million cubic feet a day of natural gas.
The well was drilled to a depth of 3,872 metres and hit two petroleum zones with a combined thickness of 30 metres.
Petrovietnam is the operator on the field and has a 40 per cent stake in it. Thailand’s PTT Exploration & Production has a 35 per cent stake and state energy company Sonatrach holds 25 per cent.
The consortium is also carrying out exploration work on block 416b in the same area and plans to spend $4-7bn on the development of the two fields (MEED 10:3:06).
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