Oil report

Algeria's Sonatrach says makes new oil, gas finds

ALGIERS, April 11(Reuters) - Algerian state energy group Sonatrach announced on Sunday a total of two new oil and gas finds, bringing to five the number of hydrocarbon discoveries this year.

The new finds were made after drilling wells at blocs 239a nad 244a in Tinrhert area in Illizi basin, the company said in a statement on its inetrnet site

Tests showed a flow rate of 4.094 cubic metres of oil per hour, 8,70 cubic metres of gas per hour and 3.68 cubic metres of condensate per hour, it said.

Algeria is the world’s fourth-largest exporter of natural gas and the eighth biggest exporter of crude.

In January Sonatrach’s chief executive and several senior executives were suspended from their duties as part of a judicial investigation into allegations of corruption. [ID:nLDE60G066]

But interim CEO Abdelhafid Feghouli said that the firm’s projects were going ahead as normal. (Writing by Hamid Ould Ahmed; Editing by Mike Nesbit)