Word: sahara
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...gang of wildcatters toiling after oil in the broiling Sahara sun found themselves regarded last week as France's best hope of the future. Their latest dramatic find, tapped and capped at Hassi Messaoud, in the southeastern quarter of war-torn Algeria, skyrocketed shares of the Compagnie Française des Pétroles from 34,000 francs last year to 61,000 francs two weeks ago. From Hassi Messaoud and neighboring Algerian fields recently opened, there was now the promise of an assured yield of 60 million bbl. of oil a year. (Controlled 1956 production by U.S. wells...
...camel, jeep and helicopter, thousands of French geologists have long been prospecting the Sahara's vast lunar landscapes, some 1,000 miles from north to south and 3,000 miles from the Atlantic to the Sudan. Last week the government totted up what they found...
...forbidding Ahaggar mountains in the central Sahara, prospectors have found samples of gold, platinum, nickel, tin, chromium, asbestos, tungsten, uranium, copper, and one small diamond. But the area is separated from the nearest port by 1,400 miles of sand-swept desert trails. Admitted the French government's mining boss in Algeria, Turquet de Beauregard: "Even if we discovered a mountain of pure iron down there, it would not pay to ship it. So we have to look for very precious ores, such as platinum and uranium, which would be worth sending by plane...
Last week the government said that "several of the most prominent U.S. oil companies are negotiating with the French for Sahara concessions." Texas Independent N. Bunker Hunt, son of H. L. Hunt, and Houston's Texas Gulf Producing Co. are dickering for a piece of the desert. Cities Service Co. and Standard Oil Co. (N.J.) say they are "interested" in making a Sahara oil deal. The five-year leases that French oil companies took in 1952 will expire this September, and some 27 million acres of potential oil lands that these companies did not exploit will...
...date, combines made up of the Royal Dutch-Shell group, the French government and French oil companies have pumped $135 million into the Sahara...