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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)
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