Russia's Gazprom reports first African discovery

13th November 2010, Comments 0 comments

Russia's gas giant Gazprom discovered hydrocarbon reserves in Algeria jointly with state energy firm Sonatrach in Russia's first discovery in North Africa, the companies said Saturday.

The news comes following President Dmitry Medvedev's visit to Algeria last month which included talks on joint prospecting and exploration.

The discovery was made after drilling on the Rhourde Sayah-2 prospecting well in the El Assel licence area, Gazprom said. The well has produced 60,000 thousand cubic metres of gas and 49 tonnes of oil per day respectively, it said.

The discovery is the first in North Africa for Gazprom, which has stepped up exploration overseas, including on the African continent, in recent years.

Gazprom and Sonatrach started drilling in the Berkine basin area, about 500 kilometres (300 miles) south of Algiers, in March, as part of the joint El Assel project in which Gazprom controls 49 percent. Sonatrach owns the other 51 percent.

© 2010 AFP

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