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TOTAL TO DRILL OIL WELLS IN MAURITANIA
CAIRO — France's Total intends to drill oil wells in Mauritania in
2009.
Industry sources said Total would explore for crude oil and natural gas
in the Taoudenit basin along the border with Mali. The basin covers 500,000
square kilometer in eastern Mauritania and contains two wells.
China's CNPC, Malaysia's Petronas and the U.S. ExxonMobil have been
conducting geo-physical studies and preparing seismic tests of Taoudenit. So
far, less than three percent of the basin has undergone seismic tests.
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In February 2008, Petronas began drilling wells in Chinguetti, the only
operational field in Mauritania. Production at Chinguetti dropped from
75,000 to 11,500 barrels per day.
Meanwhile, Algeria's energy monopoly has reported major revenue input
in 2008.
The state-owned Sonatrach earned more than $12 billion in January and
February 2008. In 2007, Sonatrach earned $57 billion from crude oil and
natural gas revenues.
"We earned slightly over $12 billion," Sonatrach chief executive officer
Mohammed Meziane said. "If prices continue to be at their current level we
expect to obtain revenue equal or superior to that of 2007."
On March 22, Meziane told Algerian state radio that Sonatrach would
launch $45 billion worth of energy exploration projects from 2008 to 2012.
Sonatrach also planned to invest in refining and petrochemicals.
