Aabar wins Repsol deal in Algeria
Aabar Petroleum Investments Company has won a contract from Spain’s Repsol worth up to $35 million to drill for oil in Algeria, Aabar said in a statement yesterday. Drilling will start in June this year. The contract, with fully-owned subsidiary Dalma Energy, is Aabar’s first in Africa. The first year of the contract is worth just over $23 million, with an option for a six-month extension worth just under $12 million, Aabar said.