Algeria’s state owned oil company Sonatrach and Sinopec Overseas Oil & Gas Limited have signed a production sharing contract relating to the contractual perimeter of Zarzaitine, located in the Illizi basin and this, under the aegis of Law No 19-13 governing hydrocarbon activities. Within the framework of this contract, Sonatrach and Sinopec undertake to carry out a program of development and exploitation works in accordance with the development plan adopted for this purpose and whose objective is the recovery and valorization of hydrocarbons in the field of Zarzaitine.This work program includes in particularThe revamping of the Gas Lift UnitThe drilling of twelve new development wellsWork over works for the replenishment of six existing wellsConnection of new development wells and maintenance of existing surface facilitiesThe recovery of flared gases and the reduction of carbon emissionsThe total amount of investment planned for the implementation of this development plan is estimated at 490 million US Dollars and will enable the recovery of nearly 95 million barrels of oil.
Algeria’s state owned oil company Sonatrach and Sinopec Overseas Oil & Gas Limited have signed a production sharing contract relating to the contractual perimeter of Zarzaitine, located in the Illizi basin and this, under the aegis of Law No 19-13 governing hydrocarbon activities. Within the framework of this contract, Sonatrach and Sinopec undertake to carry out a program of development and exploitation works in accordance with the development plan adopted for this purpose and whose objective is the recovery and valorization of hydrocarbons in the field of Zarzaitine.This work program includes in particularThe revamping of the Gas Lift UnitThe drilling of twelve new development wellsWork over works for the replenishment of six existing wellsConnection of new development wells and maintenance of existing surface facilitiesThe recovery of flared gases and the reduction of carbon emissionsThe total amount of investment planned for the implementation of this development plan is estimated at 490 million US Dollars and will enable the recovery of nearly 95 million barrels of oil.
