Council of Ministers of Algeria has approved four presidential decrees on hydrocarbon exploration and exploitation contracts in the country.
The first among the decrees sanction the additional clause No-3 of the contract signed by national hydrocarbon firm SONATRACH with oil companies Hess RER, Petronas Cagliari Overseas SDN BHD and Cepsa on 16 April 2000.
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The firms have been granted permission for exploration and exploitation of hydrocarbon in Rhourde El Rouni (block 401c), reports allAfrica.com
SONATRACH had also signed another contract with Cepsa on 10 July 2002, which has received approval for the additional clause No3 in the contract. The firms had signed the deal for hydrocarbon exploration and exploitation in the area of Timimoun (blocks 325a and 329) in south-central Algeria.
The third approval is for the deal signed between the two firms for exploration and exploitation of hydrocarbon oil at Rhoude Yacoub (block 406a) area. The council has endorsed the additional clause No6 to the contract signed on 25 May 1992.
Additional clause No1 for the contract signed on 31 March 2011 has received the fourth nod from the authorities.
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By GlobalDataSigned by the National Agency for Hydrocarbon Resource Promotion (ALNAFT), SONATRACH and Cepsa, the contract deals with hydrocarbon exploration and exploitation in the area of Rhoude Er Rouni II (blocks 401a et 403f) in the country.
