The government of Algeria will launch a new international oil and gas licensing round on April 19, offering seven exploration blocks to oil and gas companies as part of efforts to attract investment into its energy sector.
The announcement was made by the National Agency for the Valorisation of Hydrocarbon Resources, Algeria’s oil and gas licensing authority, in a statement on Wednesday.
ALNAFT, which is responsible for promoting and managing Algeria’s upstream oil and gas licensing rounds, said the upcoming bid round forms part of the country’s strategy to develop and maximise the value of its hydrocarbon resources while strengthening partnerships with international energy companies.
“The new round is part of the ongoing process and represents a structural step in implementing the national strategy for the valorisation of hydrocarbon resources,” the agency said in the statement.
Seven exploration blocks on offer
According to the agency, the seven exploration blocks included in the bid round will be offered in line with Algeria’s petroleum laws and international standards governing transparency and competitiveness in oil and gas licensing.
“The seven blocks proposed in this bid round will be offered in accordance with applicable laws and regulations, as well as international standards related to transparency and competitiveness,” ALNAFT said.
The agency explained that the international bid round provides an open and competitive process through which oil companies can apply for exploration rights under clearly defined investment conditions.
“The international bid round is an open mechanism that allows oil companies to submit their bids for exploration blocks within a framework which is clear, fair, and incentive-based for investment,” the agency added.
Strategy to attract foreign investment
Algeria has been working to attract more foreign investment into its upstream oil and gas sector in recent years, particularly after introducing reforms to its hydrocarbon law aimed at making investment terms more attractive to international oil companies.
ALNAFT said the bid round also reflects the country’s commitment to transparency and sustainable partnerships in the energy sector.
“Through this process, ALNAFT reaffirms its commitment to transparency and the optimal valorisation of national resources, as well as to strengthening sustainable partnerships with international players in the sector,” the agency said.
In the previous Algeria Bid Round 2024, the agency awarded five of the six exploration blocks offered to companies from several countries, including France, Qatar, Italy, Thailand, China and Austria, highlighting continued international interest in Algeria’s oil and gas sector.
The upcoming licensing round is expected to attract interest from international oil and gas companies looking to expand exploration activities in North Africa.
Algeria is continuing efforts to increase hydrocarbon production, boost reserves and strengthen its position in global energy markets.
