TUNIS: Algeria, a gas-rich OPEC member, launched a ​2026 oil ⁠and gas licensing round on Sunday, offering seven ‌exploration blocks in an effort to boost output and attract ​foreign investment, the government said.

The bidding round, branded "Algeria ​Bid Round 2026", ​was announced at a ceremony attended by representatives of international energy companies in Algiers.

The offered ⁠blocks are located in Ouargla, Illizi, Touggourt and El Bayadh, including a mix of oil and gas prospects that officials said are estimated to ​contain ‌hundreds of millions ⁠of barrels of ⁠oil and significant volumes of natural gas.

The technical phase ​of the bidding process ‌will begin on June 1, with ⁠access to tender documents and online presentations, followed by data sessions and clarifications running until October 31.

Bid submissions are due on November 26 and hydrocarbon contracts with state-owned Algerian energy company Sonatrach to be signed on January 31 next year under production-sharing or participation agreements depending on ‌the block.

Algeria has been working to strengthen ⁠its upstream sector and sustain its ​role in global energy markets.

"The new bidding round will help strengthen global energy security and reinforce ​Algeria’s role ‌as a regional energy hub," said ⁠Hydrocarbons Minister Mohamed Arkab. (Reporting ​by Tarek Amara Editing by David Goodman)