Petroleum Africa
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Sunday, March 24, 2019
Algeria’s hopes of getting ExxonMobil involved in exploring in its borders have taken a bit of a hit. Talks between the Algerian authorities and the US supermajor have stalled on the back of the North African country’s current unrest in the country.
The country has seen protests for weeks over President Abdelaziz Bouteflika’s bid for five terms in office. While Bouteflika bowed to pressure from the protestors, deciding to pull out of the election, his decision to postpone those elections and remain in office until new ones are set was very unpopular.
The stalling of talks between ExxonMobil and the government is the first economic fallout from the almost month-long anti-government protests.
Sonatrach and ExxonMobil had been in talks for months to develop a field in the southwestern Ahnet basin, the sources close to the discussions said, according to a Reuters report.
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