Petroleum Africa
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Wednesday, June 6, 2018
Toward its goal of reworking its energy laws, the government of Algeria has hired US law firm, Curtis, Mallet-Prevost, Colt & Mosle LLP and other consultancies to help draft the legislation. It is hoped that the new energy legislation will attract much-needed investments into the country.
The North African country has been working on a new law, but it is unclear when it will be ready as many players are involved, Sonatrach CEO Abdelmoumen Ould Kaddour told reporters.
“I have been told that we have in Algeria 40 million experts in football, but now I found out that we also have 40 million Algerians expert in oil and gas,” Kaddour said.
“But the sooner we have an attractive law, the better,” he said, without giving a date. “Foreign firms want to know how much they will get when they will invest.”
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