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Agip Finds Oil in Eastern Algeria

Italy's Agip has made an oil discovery in the Algerian Sahara, some 160 kms.east of the Hassi Messaoud oil field. An announcement by the Ministry of Energyand Petroleum Industries on 5 January said that the discovery well tested 350tons (around 2,500 barrels) a day of crude from five intervals between 3,307meters and 3,587 meters. The announcement also noted that this is the first timeoil has been found at this depth in the...