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Thursday, October 2, 2014
The results on the latest licensing round launched by Algeria could not be termed as an overwhelming success by anyone, except maybe Algeria itself. The round was the first the government has launched since 2011 and comes nearly two years after the BP/Statoil In Amenas gas plant was attacked by militants, leaving 39 foreign contractors dead.
The government launched the round in January and had high hopes that the changes to the petroleum laws would generate more interest than the rounds that were launched following the previous change to the laws in 2006. All in all Algeria only awarded four out of the 31 blocks it was offering. The results were described by Algerian officials as acceptable.
Shell and Repsol won access to the Boughezoul Block in northern Algeria. Shell also picked up a stake in the Timissit Block partnered with Statoil. A consortium made up of Enel and Dragon Oil won access to two blocks, the Tinrhert and Msari Akabli Blocks. The contracts are expected to be signed by the end of October.
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