PHOTO
Algeria’s National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) has announced that the official launch date for the next international bid round will be April 19 and that it will cover 7 exploration blocks.
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, ALNAFT said in a statement on Wednesday.
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, it explained.
“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,” it said.
“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" it added.
In the previous Algeria Bid Round 2024, ALNAFT had awarded five of the six exploration blocks offered to companies from France, Qatar, Italy, Thailand, China, Austria, and China.
(Writing by N Saeed; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
