Algerian Energy Ministry, Sonatrach Present 10 New Exploration Blocks to Investors
2004-10-21
The Energy and Mining Ministry and the state-owned oil company Sonatrach presented 10 new exploration blocks on Wednesday (20 October), as part of Algeria's sixth international tender invitation. In all, 53 foreign companies, including some in Algeria for the first time, attended the ceremony. The ten blocks are located in the Illizi and Berkine basins, as well as in southeast Constantine, east Algiers and various parts of the country's southwest. Bids will be revealed on 20 March. Since the first international tender invitation in November 2000, 27 contracts have been signed for an overall investment of $393.85m. The diversification of Sonatrach’s partners aims at increasing production capacities to 100 billion cubic metres of gas per year and 2m barrels of oil per day by 2010. (Le Soir d'Algerie, APS)
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