OREANDA-NEWS. May 08, 2013. Thailand's MTT Exploration and Production PcL (PTTEP), China's CNOOC Ltd and Algeria's Sonatrach found oil at three exploration wells in Algeria, Sonatrach said.

The new wells mark the completion of a plan to drill nine wells by the three companies at the Hassi Bir Rekaiz project. Sonatrach and its partners “honored the contractual obligations of the first phase of research consisting of drilling nine exploration wells,” Sonatrach said in a statement. First drilling operations started in late 2011.

The sixth well was drilled in December 2012. Tests showed a flow rate of 15.3 cubic metre per hour, 3.2 cubic metre per hour and 3.16 cubic metre per hour for the last three wells, the state-owned firm added.

Sonatrach holds a 51 percent stake in the project, while PTTEP and CNOOC each own 24.5 percent. The project was awarded by the Algerian government in a license round in December 2008.