Oxy Awarded Exploration Acreage in Algeria
Occidental Petroleum of the US has signed a production sharing agreement withAlgeria's Sonatrach under which the US firm is committed to invest a minimum of$32mn in oil exploration work in Algeria over a five-year period. Under theagreement Occidental is awarded four exploration blocks - Nos. 128A, 410A, 411and 412 - totaling 23,000 sq. kms., located to the east of Hassi R'mel betweenGuerrara and Touggourt. The...