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Friday, December 12, 2014
Algeria firmed up its time frame for its next licensing round. Near the end of October, shortly after it announced the winners of its last licensing round ALNAFT said it was planning the country’s next bid round. Now Sonatrach revealed that the next licensing round will take place by Q3 2015. It was also revealed that the terms may improve for companies looking into the North African country after only awarding four out of 31 blocks in the last round. “The contract terms were fair, so we are talking to all the operators and trying to understand why the turn (out) was not what we were expecting,” Reuters cited him as saying in an interview. He went on to say the energy ministry was looking into how to attract more investment from major international oil companies, in particular the contractual framework of deals, rather than the legal terms. “The contract terms are being examined by the authorities. We are hopeful that we can have another bid round some time in Q3 of 2015.
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