Algeria has granted five new oil and gas exploration licenses to international consortia following the “Algeria Bid Round 2024” tender, marking the first such relaunched tender since 2014.
This move signals Algeria’s intent to revitalize its upstream sector through diversified partnerships while projecting an image of regulatory stability.
The official award ceremony for the five exploration licenses took place on Tuesday in Algiers. The awarded blocks are distributed across several strategic basins: The TotalEnergies-QatarEnergy consortium secured the Ahara (Illizi) block. ENI and PTTEP jointly obtained Reggane II. ZPEC (China) will explore Zarafa II. Zangas-Filada was awarded the Toual II block. Sinopec received Qarn El Qessa II.
According to the ministry, these results underscore investors’ renewed confidence in Algeria’s legislative framework, which has been revised by Laws 19-13 on hydrocarbons and 22-18 on investment. The final contracts with Sonatrach are expected to be signed shortly.
SL/te/Sf/fss/abj/APA