International energy companies win exploration rights in key Algerian basins
Algeria has awarded five of the six exploration blocks awarded under the 2024 hydrocarbon licensing round, the National Agency for the Evaluation of Hydrocarbon Resources (ALNAFT) announced on Tuesday, following an opening session of the auction.
A total of seven bids were received for the ‘Algeria Auction Round 2024’, the first auction conducted under Algeria’s new Hydrocarbon Law No. 19-13, which is designed to improve investment attractiveness through improved financial and contractual terms.
The blocks awarded and the winners are as follows:
- Ahara (Illissi Basin): Total Energies (France) and Qatar Energy (Qatar)
- Recanne II (Recanne Basin): Eni (Italy) and PTTEP (Thailand)
- Zerafa II (Ahnet Gourara Basin): Zhongman Petroleum and Natural Gas Group (ZPEC) – China
- Duval II (Berkin Basin): Jangas (Austria) and Filada (Switzerland)
- Guern El Guessa II (Gourara Timimoun Basin): Sinopec (China)
The Grand M’Zaid block, located in the Oued Mya Basin, was not awarded in this round.
Contracts for the blocks awarded will be signed in the coming days with SONATRACH, Algeria’s national oil company, ALNAFT said.
