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Eon E&P and Sonatrach have made further oil and gas discoveries in the Rhourde Yacoub license area in Algeria.
In cooperation with Sonatrach, the Algerian national oil and gas company, Eon E&P has completed the drilling and testing of the seventh exploration well in Block 405a and found oil and gas in the NEY-1 well. The Rhourde Yacoub license is located in the eastern Algerian Sahara, around 250 km (155 miles) southeast of Hassi Messaoud.
“We are very pleased with another successful discovery of oil and gas in Algeria. The results of this well are very encouraging and we will now enter a phase where we will drill several wells over the next two years to evaluate the extension of the discoveries,” said Hubert Mainitz, managing director of Eon E&P Algeria.
The Rhourde Yacoub license is operated by Eon E&P with an equity share of 49%. Sonatrach holds the majority of 51%.
“The successful discoveries in Algeria are important steps for our growing upstream business in E.ON. The success of Rhourde Yacoub and our decision to continue further drilling highlights our commitment to invest in attractive projects in Algeria,” said Frank Sivertsen, CEO of E.ON E&P.
The Rhourde Yacoub license is located in the oil and gas-prone Berkine basin and E.ON E&P was awarded this block in a license round in December 2008. Since then, the company has drilled seven exploration wells and made several encouraging discoveries in the license area.