IPC TO EXPLORE ALGERIAN TRACT

International Petroleum Corp. (IPC) of Dubai, United Arab Emirates, has signed a cooperation agreement with Algerian state oil company Sonatrach covering an undrilled 8,600 sq km area north of Bechar. Site is in the western Sahara Desert. The 1 year contract, which will be effective for 12 months beginning Sept. 1, calls for geological and geophysical studies, including reprocessing of seismic data held by Sonatrach. At the end of the 12 months IPC will have an option to sign a petroleum

July 8, 1991

Site is in the western Sahara Desert.

The 1 year contract, which will be effective for 12 months beginning Sept. 1, calls for geological and geophysical studies, including reprocessing of seismic data held by Sonatrach.

At the end of the 12 months IPC will have an option to sign a petroleum agreement, with terms to be negotiated.

IPC said the Bechar area lies in the eastern extension of the Anti Atlas.

What's more, sparse geophysical data indicate huge geological structures, the company said. Oil prone source rocks have been identified in Middle to Upper Devonian and Silurian outcrops to the north and east. There are three reservoir targets in the area, sealed by Mesozoic salt and shales.