Algeria sets 17 June as bid opening date for 2024 oil and gas round
Algeria has set 17 June 2025 as the opening date for bids received under the 2024 Bid Round, National Agency for the Valorisation of Hydrocarbon Resources in Algeria (ALNAFT) announced on Thursday.
The 2024 round, launched in October 2024 with six onshore blocks, attracted the interest of 41 global operators.
Speaking in a webinar hosted in partnership with the African Energy Chamber (AEC) and Wood Mackenzie, Mourad Beldjehem, Chairman of the Board of Directors of ALNAFT, said they were optimistic on awarding "at least" five out of the six blocks, adding that ALNAFT intends to select the same type of blocks, featuring both exploration and development opportunities for its 2025 Bid Round, slated for launch in the fourth quarter this year.
The country's new Hydrocarbon Law, introduced in 2019, helped reverse declining production in the OPEC member, and put it on track to maintain sales gas production of 10 billion cubic feet per day until the end of the decade.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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