245-South Block (Algeria)

Rosneft participates in an international exploration project at the 6,548 sq. km 245-S block in southern Algeria. The project is operated by Rosneft-Stroytransgaz Ltd, a joint venture between Rosneft and Stroytransgaz holding a 60% stake in the project, as well as the Algerian state oil and gas company Sonatrach, which owns the remaining 40%.

The following major exploration activities were carried out at the block during 2001–2007:

• 1,200 linear km of 2D seismic and 300 sq. km. of 3D seismic were shot
• three exploration wells were drilled (excluding delineation wells)
• three fields were discovered (West- and East-Takuazet oil fields and North-Tesselit gas condensate field)
• three delineation wells were drilled, which confirmed the block’s hydrocarbon development potential

The reinterpretation of geological and geophysical materials for the fields, as well as creating geological and geophysical models were completed in 2008. Preparation for development of these fields is in hand. In March 2009 the development projects were approved by the Algerian Hydrocarbon Agency.

Exploration activities at the 245-South block