Sonatrach awards five PSCs in latest tender round

By OGJ editors

HOUSTON, Dec. 26 -- Algerian oil and gas company Sonatrach Monday awarded five exploration contracts totaling $100 million to international oil firms, OPEC News Agency reported.

Sonatrach signed production-sharing contracts with China National Petroleum Corp. for two blocks; and with Calgary-based Petro-Canada; a consortium of Madrid-based Repsol-YPF SA, Hamburg-based RWE-DEA, and Edison International SPA of Italy; and a joint venture of Spain's CEPSA SA and Total SA of France.

The blocks, which are in Algeria's southwestern region covering 47,000 sq km, were awarded following the country's fourth international open tender.

Sonatrach said this latest round of exploration bidding is part of its plan to double its oil production capacity by 2005 and to increase the number of foreign companies operating in the country.

During the past 3 years, the company has signed 22 production-sharing contracts with international companies.

Related Articles

Gasoline price games

03/24/2014 Let's assume you're a typical American, typically scornful of the oil and gas industry. You don't work for the industry. You don't know much about ...

OGJ Newsletter

03/24/2014

International news for oil and gas professionals

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected