• TotalEnergies, Eni, Sinopec win Algeria oil, gas blocks.

• Aim is to boost gas output to 200 bcm/year.

• Contracts to be signed July 30.

Oil giants TotalEnergies, Eni, Sinopec, and other companies have been selected to operate exploration and production blocks in Algeria’s Illizi, Reggane, Berkine, Ahnet-Gourara, and Gourara-Timimoun basins. This announcement came on June 17, following the conclusion of the "Algeria Bid Round 2024," an international tender designed to boost foreign investment in the hydrocarbon sector.

According to Algeria’s National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), five hydrocarbon exploration and production licenses were awarded as part of the round. This initiative aligns with the country’s broader strategy to increase natural gas output to 200 billion cubic meters annually within five years, up from the current estimated 106 billion cubic meters.

Mohamed Arkab, Algeria’s Minister of Hydrocarbons, stated, "The positive results of this tender reflect the confidence in Algeria’s legal framework and confirm the attractiveness of its hydrocarbon sector and the stability of its business environment." ALNAFT President Mourad Beldjehem added that the awarded projects are expected to generate an additional 20 billion cubic meters of gas per year in the medium term.

The tender prioritized companies with a proven operational history in Algeria, though specific figures on planned direct investments were not disclosed. The next step will be the signing of contracts with Algeria’s state-owned oil and gas company, Sonatrach, scheduled for July 30, in accordance with national legislation.