The Algerian Energy and Gas Corporation (Sonatrach) announced the discovery of 10 new gas and oil fields in the south of the country during the first half of this year.
And in a press statement, Rabih Badji, Director of the Exploration Department at Sonatrach, said: “Most of these explorations are located near the current facilities and exploitation areas, which will allow the company to quickly include them in production operations.”
Baggy pointed out that the corporation is currently conducting an audit and evaluation process for the profitability of these discoveries and will announce its results before the end of the current year, and that “Sonatrach” is distinguished by the efficiency of the discoveries in terms of the low cost of one explored barrel, which does not exceed one dollar, compared to its counterparts in several regions of the world. Sometimes it goes as high as $8.
He explained that the company has programmed, within its annual plan, to drill 45 wells across all regions of the country through three-dimensional exploration operations using the latest technologies. So far, 23 wells have been completed, and the remaining drilling operations will be completed before the end of the year.
On the other hand, Baggy revealed that the company plans to complete a center for processing and analyzing data and accounts as soon as possible, which will contribute to raising the capabilities of the institution in the field of speedy processing of the huge amount of information flowing within the framework of three-dimensional scanning and exploration operations.
It is noteworthy that (Sonatrach) announced at the beginning of last July that it achieved revenues of $21 billion in the first five months of this year, adding that it recorded during the same period eight new discoveries of hydrocarbons, seven of which were discovered by its own efforts.