Dragon Oil, Enel Awarded Two Oil, Gas Exploration Blocks in Algeria

Dragon Oil, in partnership with Italy's Enel has been awarded two exploration blocks, Tinrhert Nord Perimeter and Msari Akabli Perimeter, in Algeria.

Tinrhert Nord Perimeter

The Tinrhert Nord Perimeter in which Dragon Oil will hold a 70% participating interest and be the operator with Enel holding the remaining 30% is in the Illizi Basin in Eastern Algeria and near a number of producing oil and gas fields. The total area of the perimeter is 2,907 km2. Four wells are expected to be drilled during the exploration period.

Msari Akabli Perimeter

The Msari Akabli Perimeter in which Dragon Oil will hold a 30% participating interest with Enel holding the remaining 70% and serving as the operator is in the Ahnet Basin in South-western Algeria. The total area of the perimeter is 8,096 km2. A number of undeveloped discoveries have been previously identified on the perimeter. Three wells are expected to be drilled during the exploration period.

Dragon Oil and Enel jointly participated in the 4th Bid Round to Award Hydrocarbons Exploration and Exploitation Contracts conducted by l'Agence Nationale pour la Valorisation des Ressources en Hydrocarbures of Algeria.