Algeria Awards Massive Oil Exploration Licenses to Global Energy Giants in Landmark Bidding Round
TotalEnergies, Eni, and Chinese companies secure five major blocks in Algeria’s first international tender under new hydrocarbon law, opening vast new territories for exploration
Algeria has awarded exploration licenses for five major oil and gas blocks to international energy companies in a landmark bidding round that marks the country’s renewed push to attract foreign investment. The awards, announced through the “Algeria Bid Round 2024,” represent the first international tender conducted under the country’s new hydrocarbon law and signal a significant opening of the North African nation’s energy sector.
TotalEnergies, partnering with QatarEnergy, emerged as the biggest winner, securing the massive Ahara license covering approximately 14,900 square kilometers at the intersection of the prolific Berkine and Illizi Basins. The French energy giant will serve as operator with a 24.5% stake, matching QatarEnergy’s share, while national company Sonatrach retains the majority 51% interest as required by Algerian law.
Italian energy major Eni, in consortium with Thailand’s PTTEP, won the Reggane II block, while Chinese companies made significant inroads with ZPEC securing Zerafa II and SINOPEC obtaining Guern El Guessa II. The final awarded block, Toual II, went to a consortium including Zangas and Filada.
The successful bidding round, which received seven bids for six proposed areas, demonstrates strong international appetite for Algerian hydrocarbon assets. Algeria, one of Africa’s largest oil and gas producers, had periodically launched international bid rounds since the early 2000s, but this marks the first under the new regulatory framework designed to attract greater foreign participation.
Source: EgyptOil-Gas.com
