Petroleum Africa
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Thursday, January 23, 2014
Algeria has announced the launching of its first licensing round following the changes to its hydrocarbon laws. Interested parties will have 31 blocks to choose from. Ali Betata, head of the state agency in charge of handling the bids, ALNAFT, told reporters that 17 of the fields on offer would be in the south, five in the north, and the rest located in the center of the country.
There is some question as to whether this round will be any more successful than Algeria’s last. When asked about the round, the country’s Mines and Energy Minister Youcef Yousfi said, “’We will explain to our partners the elements and incentives included in the bidding.” Algeria’s last round in 2011 failed to attract major interest and the only two awards went to Cepsa and Sonatrach.
The country’s recently amended energy law, passed last year, includes tax and other contractual incentives for foreign companies, and benefits for unconventional energy resource investments such as shale oil and gas contracts. There is also offshore exploration in the works. Yousfi said as part of new developments, offshore exploration would start at the end of this year or early next year.
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