Algeria to launch third oil licensing bid round

9/3/2010

Algeria to launch third oil licensing bid round

The Algerian Ministry of Energy and Mining, and the National Agency for the Valorisation of Hydrocarbons Resources (ALNAFT) said that they will organize the third international licensing bid round to explore oil and gas blocks in November, according to Arabian Oil & Gas.

International oil tenders have been suspended following the reluctance of foreign oil companies to make their bids, due to the financial scandal that hit Sonatrach earlier in the year and the drop of oil prices, reported the Algerian daily, Al-Khabar.

The second international tender bidding rounds from July to December 2009 were seen to be disappointing, which saw the awarding of three licenses only. A consortium made up of Thailand’s PTT Exploration and Production (PTTEP) and China National Offshore Oil Corporation (CNOOC) won the Hassi Bir Rakaiz permit, while a consortium made up of French major Total and its Portuguese partner Partex were awarded the Ahnet block.

These projects were launched in partnership with Sonatrach.

The progress of the Sonatrach case in the courts and the improvement of oil prices in international markets has convinced ALNAFT into resuming the process of international tenders this November.

 

Related News ///

FROM THE ARCHIVE ///

Comments ///

comments powered by Disqus