Cepsa and Total have been awarded a new oil exploration permit in Algeria. In a statement, Cepsa said the permit is for drilling and various seismic activities in the Bechar block, covering 13,775 square kilometres in the Western part of the country.
Separately, Cepsa said chairman Carlos Perez de Bricio met recently with Mohamed Meziane, chairman of Algerian state-owned oil and gas group Sonatrach, to discuss the upcoming completion of the basic engineering for the Medgaz gas pipeline between Algeria and Spain. Cepsa and Sonatrach are the lead managers of the Medgaz project, in which Total, Endesa SA, Iberdrola SA, BP PLC and Gaz de France also have stakes.
