Latest news with #ALNAFT
Qatar Tribune
3 days ago
- Business
- Qatar Tribune
QatarEnergy wins onshore exploration licence in Algeria
Tribune News Network Doha QatarEnergy has won an onshore exploration license in the People's Democratic Republic of Algeria as part of the 'Algeria Bid Round 2024', marking its first entry into Algeria's upstream sector. The results of the competitive bid process were announced by The National Agency for the Valorization of Hydrocarbon Resources, awarding exploration and production rights for the onshore Ahara Block to a consortium comprising of QatarEnergy with an effective interest of 24.5 percent, TotalEnergies (the operator during the exploration phase) with an effective interest of 24.5 percent, and Algeria's national state-owned oil company 'Sonatrach' with an effective interest of 51percent. Commenting on this award, Minister of State for Energy Affairs, President and CEO of QatarEnergy HE Saad Sherida Al Kaabi said, 'We are delighted to be awarded the Ahara Block, which marks our first entry into Algeria's upstream sector and further and expands our footprint in Africa.' Al Kaabi added, 'I would like to take this opportunity to congratulate and thank the Algerian Ministry of Energy, Mines, and Renewable Energies and ALNAFT on the successful management of this bid round. We look forward to a successful and collaborative exploration endeavor with the Ministry alongside ALNAFT, Sonatrach, andTotalEnergies.' Located in eastern Algeria at the intersection of the prolific Berkine and Illizi Basins, the Ahara Block covers an area of approximately 14,900 km².
Qatar Tribune
3 days ago
- Business
- Qatar Tribune
QatarEnergy wins exploration licence in Algeria
DOHA: QatarEnergy has won an onshore exploration licence in the People's Democratic Republic of Algeria as part of the 'Algeria Bid Round 2024', marking its first entry into Algeria's upstream sector. The results of the competitive bid process were announced by the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), awarding exploration and production rights for the onshore Ahara Block to a consortium comprising of QatarEnergy with an effective interest of 24.5%, TotalEnergies (the operator during the exploration phase) with an effective interest of 24.5%, and Algeria's national state-owned oil company 'Sonatrach' with an effective interest of 51%. Commenting on the award, Minister of State for Energy Affairs, President and CEO of QatarEnergy HE Saad bin Sherida Al Kaabi said, "We are delighted to be awarded the Ahara Block, which marks our first entry into Algeria's upstream sector and further expands our footprint in Africa." He added, "I would like to take this opportunity to congratulate and thank the Algerian Ministry of Energy, Mines, and Renewable Energies and ALNAFT on the successful management of this bid round. We look forward to a successful and collaborative exploration endeavor with the Ministry alongside ALNAFT, Sonatrach, and TotalEnergies." Located in eastern Algeria at the intersection of the prolific Berkine and Illizi Basins, the Ahara Block covers an area of approximately 14,900 km2.
Zawya
4 days ago
- Business
- Zawya
Algeria announces bid openiong session for the 2024 oil and gas round
Algeria's Ministry of Energy, Mines, and Renewable Energies announced on Tuesday the bid opening session for 'Algeria Bid Round 2024,' launched by the National Agency for the Valorisation of Hydrocarbon Resources in Algeria (ALNAFT) last year. A report by local news website Echoroukonline said several global energy firms participated in the session, having previously reviewed the technical documentation through data rooms. It said the 2024 Round included six onshore exploration blocks spread across various provinces: • El Mziad El Kbir (in Ouargla, Ghardaïa, and El Menia) • Ahara (Illizi) • Reggane (Adrar) • Zraraffa (between Adrar and Ain Salah) • Tawal (between Ouargla and Illizi) • Qarn Al-Qissa (covering Béchar, Béni Abbès, El Bayadh, and Timimoun) Last month, Zawya Projects said in a report that the round attracted the interest of 41 global operators. The report said the next 2025 round is slated for launch in the fourth quarter of 2025. (Writing by Majda Muhsen; Editing by Anoop Menon) (
Zawya
29-05-2025
- Business
- Zawya
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) (
Zawya
29-05-2025
- Business
- Zawya
Algeria shares update on 2024/2025 bid rounds ahead of African Energy Week 2025
JOHANNESBURG, South Africa -- Algeria will host its bid opening ceremony for its 2024 Bid Round on June 17, 2025, the country's upstream regulator the National Agency for the Valorization of Hydrocarbon Resources in Algeria (ALNAFT) announced. Opened in November 2024, the bid round featured six onshore blocks and has piqued the interest of 41 operators. The country is now planning to launch its 2025 Bid Round in Q4 this year. 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, explained that the country has a multi-year licensing strategy in place, aimed at attracting international oil companies (IOC) to the country's oil and gas market. Acreage available in the 2024 Bid Round is supported by a wealth of geological and geophysical data, offering investors a comprehensive overview of the country's subsurface. 'Algeria's five-year plan features multiple licensing rounds, focusing on high-potential geological zones, combining greenfield and low-risk brownfield assets to attract a spectrum of industry players. Bid Round 2024 is underway, with 41 companies expressing interest. We received interest from IOCs from all over the world, including North America, Asia and more. We are optimistic that we will award five out of six blocks, at least. The next bid round, we will select the same type of blocks, featuring both exploration and development [opportunities],' he said. Titled Unlocking North Africa's Gas Riches: Focus on Algeria, the session falls part of a series of webinars organized by the AEC ahead of this year's African Energy Week: Invest in African Energies – taking place September 29 to October 3, 2025, in Cape Town. The webinar offered direct insight into Algeria's natural gas market, highlighting the role recent regulatory reforms have had on the market. The 2024 Bid Round represented the country's first in a decade, and the 2025 Bid Round is anticipated to build on its success to entice further investment in Algeria's upstream market. 'Gas has become particularly important in the world. We have seen an increase in African gas production, specifically Algeria. The country is located close to a large consumer market in Europe and it is a text book example of how you can improve fiscals to attract significant amounts of investments,' stated Verner Ayukegba, SVP, AEC. Regulatory reform has played a major part in reversing Algeria's oil and gas production decline. According to Martijn Murphy, Principal Analyst, Wood Mackenzie, the country's production was on a declining trajectory until 2021, when projects incentivized by a new Hydrocarbon Law – adopted in 2019 – turned this trend around. Now, Algeria is on track to maintain sales gas production of 10 billion cubic feet per day until the end of the decade. 'New fiscal terms are beginning to yield foreign investment. In 2019, the country introduced a new Hydrocarbon Law, which we consider a marked improvement from the 2013 terms. Production so far this year has rebounded. Our outlook excludes contributions from yet-to-find discoveries – which we expect to be made following licenses awarded this year - and unconventionals. Algeria is also starting to look serious about shale gas development, following MoUs signed last year,' Murphy shared. This anticipated rebound in production will not only bring benefits to the local market, but support global demand through Algerian exports. Given its strategic location and heightened European demand, the country aims to consolidate its position as a leading European supplier. With Algeria seeking to increase annual gas production to 200 billion cubic meters over the next five years, the country is expected to play a much larger role in supporting European demand. Gavin Thompson, Vice Chair: EMEA at Wood Mackenzie, stated that 'Overall, European gas demand remains strong in a turnaround by 2030. The ever-changing geopolitical landscape is impacting the European market. Looking at the potential outcomes of a Ukraine peace agreement, that has big implications on European gas markets.' Distributed by APO Group on behalf of African Energy Chamber. SOURCE African Energy Chamber
