Petroleum Africa
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Wednesday, May 14, 2014
Ali Betata, president of Algeria’s ALNAFT reported that more than 50 companies have expressed interest the North African country’s latest licensing round. While this does not mean that all of these companies will be submitting bids, it does show that the government’s revamping of the hydrocarbon laws and the offering of incentives may pay off.
Betata told Reuters, interest in the potential fields was clear during the data room meetings. “Since we opened the data room sessions, the number of companies seeking different perimeters has not stopped increasing,” he said. “From that rhythm of participation of the companies, we can conclude there is certainly interest.”
The government is hoping that this latest round will break the cycle of doom the past few rounds have seen; its last round in 2011 resulted in only two out 10 contracts being awarded, and one of those went to its own state-run oil firm Sonatrach.
The government is offering up 31 blocks in this licensing round, including some shale gas prospects. No matter the potential of the blocks on offer, companies will still have other considerations when contemplating their bids such as security, which for operators in North Africa has become a big piece of the cost of doing business.
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