August 7, 2008

StatoilHydro Makes Additional Gas Discovery at Hassi Mouina License in Algeria

Norwegian oil and gas company StatoilHydro and its partner Sonatrach have made a fifth gas discovery in the Hassi Mouina license in Algeria's Sahara desert region. The existence of gas was confirmed by the exploration well TNKW-1 in the southern part of the license.

The Hassi Mouina license was awarded in June 2004. It includes four blocks within an area of 23,000sqkm in the Gourara basin, of which 30% has been relinquished to the Algerian government in accordance with the license agreement.

The area is located in the western part of the Sahara in Algeria, northwest of the In Salah gas field, where StatoilHydro has a 31.85% interest. StatoilHydro has a 75% interest in Hassi Mouina, whereas its partner Sonatrach has a 25% interest.

Alf Meland, StatoilHydro's head of exploration in Algeria, said: "This is an interesting discovery and shows that there is resource potential in the Hassi Mouina license."