9 hours ago
TotalEnergies-QatarEnergy partnership awarded Ahara Block in Algeria
A partership between France's TotalEnergies and Qatar's QatarEnergy has been awarded the Ahara block in Algeria's Illizi Basin, following the country's 2024 hydrocarbons bid round, TotalEnergies said in a statement on Wednesday.
Ahara covers an area of approximately 14,900 square kilometres (sq km), and is located at the intersection of the prolific Berkine and Illizi Basins, the statement noted.
TotalEnergies and QatarEnergy will each hold a 24.5 percent interest in the license, while Algeria's national oil company Sonatrach will retain a 51 percent majority stake, the statement said, adding that TotalEnergies will serve as the operator of the block.
Algeria Bid Round 2024 was the first to be launched under Algeria's new hydrocarbon law No. 19-13 and was conducted by the National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT).
A partnership between Italian oil and gas giant Eni and Thailand's PTT Exploration and Production Public Company (PTTEP) was awarded the Reggane II Block under the 2024 round.
(Writing by Majda Muhsen; Editing by Anoop Menon)
