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Algeria’s National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) said on Tuesday that UK-based energy giant BP has been granted a prospecting license in the country as part of efforts to deploy advanced technologies and unlock underexplored regions
The license targets Algeria’s Eastern Basin and forms part of a broader strategy to improve subsurface knowledge and identify new resources.
ALNAFT said Algeria’s mining domain spans more than 1.7 million square kilometres (sq km) and includes large underexplored areas with significant resource potential.
Bid round set for April 19
Earlier this month, ALNAFT had announced that the next international licensing round will officially launch on April 19 and will cover seven exploration blocks.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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