E.ON says finds more oil and gas in Algeria

Reuters    Translate This Article
17 July 2012

FRANKFURT (Reuters) - E.ON AG [based in Duesseldorf, Germany] and Algerian state energy firm Sonatrach have made further oil and gas discoveries in the Rhourde Yacoub license area in Algeria, E.ON said on Tuesday.

The Rhourde Yacoub license is operated by E.ON E&P with an equity share of 49 percent, while Sonatrach holds the majority of 51 percent.

The Rhourde Yacoub license is located in the oil and gas-prone Berkine basin and E.ON subsidiary E.ON E&P was awarded this block in a license round in December 2008.

Since then the company has drilled 7 exploration wells and made several discoveries in the license area.

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