Major International Consortium Secures Algeria’s Ahara Block in Landmark Deal
Algeria has awarded its prized Ahara perimeter in the southeastern region to a prestigious international consortium comprising national oil company Sonatrach, Qatar’s QatarEnergy, and French major TotalEnergies. The Production Sharing Contract represents the first major success of Algeria’s 2024 international bid round under the country’s reformed hydrocarbon framework.
Under the agreement, Sonatrach will maintain majority control with a 51% stake, while QatarEnergy and TotalEnergies will each hold 24.5% shares. TotalEnergies will serve as operator during the exploration and appraisal phases of the project, bringing its technical expertise to bear on the promising acreage.
The Ahara perimeter spans approximately 14,900 square kilometers at the strategic junction of the Berkine and Illizi basins, two of Algeria’s most prolific hydrocarbon-producing regions. The project aligns with Algeria’s broader strategy to attract foreign investment and boost energy production under the reformed legal and fiscal framework introduced in 2019.
Source: energycapitalpower.com
