Statoil, Shell to Test Algeria’s Shale Resource Play

Norway’s Statoil, Anglo-Dutch Shell and Sonatrach were awarded the Timissit Permit Licence in the Illizi-Ghadames Basin onshore Algeria. 

‘The licence is located in southeastern Algeria and covers an area of 2730 square kilometres. Statoil bid in partnership with Shell, where Statoil will be the operator with 30% equity, Shell will hold 19% equity and the remaining 51% will be held by Sonatrach,’ reads a note released on Tuesday.

The companies are willing to test the shale resource play. 

The country has exceptional shale gas reserves. According to last EIA report, Algeria is the third country in the world for technically recoverable shale gas resources after China and Argentina.