Statoil and Shell win Timissit license onshore Algeria

Statoil

Statoil and Shell awarded Timissit permit license in the Illizi-Ghadames Basin onshore Algeria. The license is in southeastern Algeria and covers an area of 2,730 square kilometers.

Statoil bid in partnership with Shell, where Statoil will be the operator with 30% equity, Shell will hold 19% equity, and Sonatrach will hold the remaining 51%.

The award represents an opportunity to test a potentially large shale resource play, and is aligned with Statoil’s exploration strategy of early access at scale and deepening core positions.



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