TNK-BP still eyeing BP asset in Algeria
MOSCOW. March 1 (Interfax) - TNK-BP is still interested in BP's asset in Algeria, TNK-BP's deputy chief executive, Maxim Barsky, told reporters.
"We're still interested in the asset in Algeria, but we're not expecting any breakthroughs yet. Changes are underway in the Arab world, and they could affect Algeria, too. We'll be filing a bid for this asset," Barsky said.
BP, which said last year it was selling $40 billion worth of assets to pay for the Gulf of Mexico disaster, is involved in two gas projects in Algeria, In Salah Gas and In Amenas. In Salah Gas is one of the country's biggest joint ventures. Seven gas sections in the southern Sahara are being developed in this project. BP is also participating in the development of Algeria's second biggest oil field Rhourde El Baguel, where yield enhancement technology is in use.
In addition, the company is involved in exploration of the Bourarhet section, which neighbors In Amenas.
Algeria's Sonatrach has first right of refusal to buy the BP assets.