Continental Focus, International Reach

Algeria Prepares for New Bid Round

Friday, October 31, 2014

On the heels of just announcing the winners of its latest licensing round, North Africa’s Algeria is planning its next round. Despite only awarding four out of 31 blocks, Algeria is still hopeful it can increase investment which has been lackluster for a number of years.

Algeria’s first attempt at luring investors through a licensing round since 2011 was described as acceptable by officials in the country, but industry analysts say the government will need to do more to improve conditions to attract that investment.

“We are preparing a new bidding round. It will be launched within weeks,” Sid Ali Beta, head of hydrocarbons agency ALNAFT, which oversaw the bidding, told reporters at the signing of contracts with the winners of the September 30 auction.

He gave no further details.


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