Anadarko/Agip swap buoys African exploration
Under the accord, Anadarko Eritrea Co. will gain 50% of operator Agip SpA's 380,000-acre Jenein Nord Block in Tunisia and transfer to Agip a 30% interest in its 6.7 million acre Zula block in the Red Sea off Eritrea.
Off Tunisia, Agip completed a 373-km seismic survey and is reprocessing 600 km of existing data in 1998. Jenein Nord block is 15 km southeast of the 1 billion-bbl El Borma field Agip discovered in 1964.
Operator Agip has not disclosed drilling plans for Jenein Nord.
Eritrean exploration
Anadarko has exploration rights to two blocks-Zula and Edd-in the Red Sea off Eritrea (see map, this page, and OGJ, Oct. 6, 1997, p. 35).Anadarko completed a 4,700 km seismic survey in the Red Sea, and, together with partner Agip, hired a drilling rig for three exploratory wells, with the first to spud in for mid-1998.
Anadarko plans to spend about $23 million for Edd exploration in the next 51/2 years, in addition to the $28.5 million committed for Zula exploration.
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