Algeria has awarded five of the six exploration blocks offered under its 2024 hydrocarbons licensing round, the National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) announced following the bid opening session held on Tuesday.

A total of seven bids were received for the 'Algeria Bid Round 2024,' which was the first conducted under Algeria’s new hydrocarbon law No. 19-13, designed to enhance investment attractiveness through improved fiscal and contractual terms.

The awarded blocks and winners are as follows:

  • Ahara (Illizi Basin): TotalEnergies (France) and QatarEnergy (Qatar)
  • Reggane II (Reggane Basin): Eni (Italy) and PTTEP (Thailand)
  • Zerafa II (Ahnet Gourara Basin): Zhongman Petroleum and Natural Gas Group (ZPEC) - China
  • Toual II (Berkine Basin): Zangas (Austria) and Filada (Switzerland)
  • Guern El Guessa II (Gourara Timimoun Basin): Sinopec (China)

The Grand M'Zaid block, located in the Oued Mya Basin, was not awarded in this round.

ALNAFT stated that contracts for the awarded blocks will be signed with Algeria’s national oil company SONATRACH in the coming days.

(Writing by Majda Muhsen; Editing by Anoop Menon)

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