Algeria looks for bids in new round


Algeria looks for bids in new round

Algeria invited prequalified companies to bid for acreage that contained what it called high potential petroleum resources beginning June 30 in a new licensing round. In a change from previous rounds, Algeria will favor companies with technology suited to exploiting its unconventional gas deposits, Energy and Mines Minister Chakib Khelil said.

Previously the country had looked for swaps from interested companies that would have given it access to oil and gas reserves in other countries. "It is not for upstream swaps," Khelil said in a Reuters report. "It will be for companies with tight sands technology, so there will be some prequalification done in that area."

A statement on the Energy and Mines Ministry Web site said the deadline for bids for 10 zones containing 25 blocks was 0900 GMT on 20 December and that bids would be opened 30 minutes later.

Khelil said the blocks on offer had been chosen by companies interested in bidding. Nine of them had not previously been offered, he added. "The blocks were not chosen by use," he said. "They were chosen by the companies."

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