NO. 42


US Firm Arco Signs Enhanced Oil Recovery Agreement With Sonatrach

After two years of negotiations, Algeria's Sonatrach has signed a heads ofagreement with the US firm Atlantic Richfield (Arco) for an enhanced oilrecovery program (EOR) for the Rhourde El Baguel field. Talks are still underway to finalize the 25-year production-sharing agreement, which provides forSonatrach to take 51% of the output and Arco 49% plus cost recovery and aprofit. Arco will pay a bonus...