Latest news with #IlliziBasin
Zawya
9 hours ago
- Business
- Zawya
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)
Zawya
9 hours ago
- Business
- Zawya
Algeria awards 5 blocks in 2024 hydrocarbons bid round
Algeria has awarded five of the six exploration blocks offered under its 2024 hydrocarbons licensing round, the National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) announced following the bid opening session held on Tuesday. A total of seven bids were received for the ' Algeria Bid Round 2024,' which was the first conducted under Algeria's new hydrocarbon law No. 19-13, designed to enhance investment attractiveness through improved fiscal and contractual terms. The awarded blocks and winning consortia are as follows: Ahara (Illizi Basin): TotalEnergies and QatarEnergy Reggane II (Reggane Basin): Eni and PTTEP Zerafa II (Ahnet Gourara Basin): Zhongman Petroleum and Natural Gas Group (ZPEC) Toual II (Berkine Basin): Zangas and Filada Guern El Guessa II (Gourara Timimoun Basin): Sinopec The Grand M'Zaid block, located in the Oued Mya Basin, was not awarded in this round. ALNAFT stated that contracts for the awarded blocks will be signed with Algeria's national oil company SONATRACH in the coming days. (Writing by Majda Muhsen; Editing by Anoop Menon) (
