ALGIERS – Algerian Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, oversaw on Monday the signing of five hydrocarbon contracts and the handover of their related allocation decisions, the Algerian Ministry of Energy said in a statement.
According to the statement, these contracts are part of the outcomes of the “Algeria Bid Round 2024,” which is the first international competition organized under the new Hydrocarbon Law No. 19-13.
The statement explained that this round led to the awarding of 5 out of the 6 proposed blocks, with contracts lasting 30 years, including 7 years allocated for exploration activities, and a minimum total investment estimated at 606 million US dollars.
The contracts are distributed as follows:
– “Qarn Al Qissa 2” block (Bechar, Beni Abbes, El Bayadh, Timimoun): A partnership contract between Sonatrach and SINOPEC International Energy Investment Holdings Limited.
– “Zarafa 2” block (Adrar, El Meniaa, Ain Salah, Timimoun): A production-sharing contract with Zhongman Petroleum and Natural Gas Group (ZPEC).
– “Ahara” block (Illizi): A production-sharing contract with QatarEnergy International E&P LLC and TotalEnergies EP Algérie.
– “Reggane 2” block (Adrar): A production-sharing contract with PTTEP Algeria Company Limited and Eni Algeria Exploration B.V.
– “Tawal 2” block (Ouargla, Illizi): A partnership contract with ZANGAS Hoch-und Tiefbau GmbH and FILADA.
The Algerian Ministry of Energy emphasized that these results reflect the attractiveness of Algeria’s new investment climate, supported by a modern and flexible legal framework, as well as a clear strategy aimed at strengthening value-added partnerships—particularly in the areas of exploration and the development of national hydrocarbon resources.
The ministry added that, through this step, Algeria reaffirms its commitment to supporting sustainable investments in the energy sector, in a way that enhances its contribution to economic development and consolidates its position as a reliable and promising destination for hydrocarbons on the international stage.
