Algeria’s Sonatrach announced on Tuesday a crude oil discovery at a project it partners with Thailand’s top oil and gas explorer, PTT Exploration and Production PcL (PTTEP), and CNOOC Ltd. The oil find was made at the Hassi Bir Rkaiz project in the Berkine basin at blocks 443a-424a-414xt-415ext, it said in a statement on its website. The discovery is at the sixth well to be drilled at the project, with…

Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, agreed to buy Cove Energy Plc (COV) after raising its bid to 1.12 billion pounds ($1.8 billion), securing a stake in gas fields discovered off Mozambique. Shell increased its offer for Cove to 220 pence a share from 195 pence, matching a rival proposal from Thailand’s PTT Exploration & Production Pcl (PTTEP), the Hague-based company said in a statement today. The…

Thailand’s PTT Exploration & Production PCL (PTTEP.TH) said Friday that its joint venture has found oil and gas at the Algeria Hassi Bir Rekaiz Project, located onshore in the eastern part of Algeria. The Thai company owns a 25% stake in the project, while Algeria’s national oil and gas company Sonatrach and CNOOC Ltd. (0883.HK) owns 51% and 24.5%, respectively. The project’s first exploration well at this block was drilled…

Thailand’s PTT Exploration and Production Pcl (PTTEP) Has agreeed to dilute its share in three deep-offshore exploration blocks in the Makassar Strait in Indonesia, passing part to French oil company Total SA, the company said in a statement * It is passing to Total a stake of 33 percent in the South Mandar block and 10 percent each in Sadang block and South Sageri block, it said * PTTEP now…