TotalEnergies and QatarEnergy Strengthen Algerian Partnership with New Exploration License
TotalEnergies has secured a significant new exploration opportunity in Algeria through a joint venture with QatarEnergy, marking another milestone in the French energy giant’s long-standing relationship with the North African nation. The partnership was awarded the Ahara license following Algeria’s first international bidding round under the country’s updated hydrocarbon legislation.
The Ahara license represents a substantial commitment, covering approximately 14,900 square kilometers in a strategically important location where the prolific Berkine and Illizi Basins intersect. TotalEnergies will take the operational lead during the exploration and appraisal phases while maintaining a 24.5% effective interest, equal to QatarEnergy’s stake. The arrangement ensures that national company SONATRACH retains majority control with 51% ownership, aligning with Algerian regulatory requirements.
“TotalEnergies is delighted that its joint bid with QatarEnergy has led to the award of the Ahara license, allowing us to write a new chapter in our long-lasting partnership with SONATRACH in Exploration in Algeria,” commented Patrick Pouyanné, Chairman and CEO of TotalEnergies.
The award builds on TotalEnergies’ established presence in Algeria, where the company has been active across multiple energy sectors for decades. Through various subsidiaries, TotalEnergies maintains interests in the Tin Fouyé Tabankort and Timimoun gas fields, Berkine Basin oil fields, and liquefied natural gas operations through supply agreements with Sonatrach. In 2023, the company produced 51,000 barrels of oil equivalent per day from its Algerian assets.
Source: WorldOil.com
