Algeria: two new decrees to rule on research and exploitation of hydrocarbons

(Agence Ecofin) - The Algerian government adopted two decrees on contracts for the research and exploitation of hydrocarbons in this country with enormous potentials of conventional and non-conventional hydrocarbons, reports APS. Measures were taken during the Cabinet meeting on 22 July, presided over by the head of state Abdelaziz Bouteflika.

The first text gives approval to twenty contracts for Research and the exploitation of hydrocarbons between the National Agency for the promotion of hydrocarbons (ALNAFT) and Sonatrach, the public company.

The second decree approves an amendment to the contract of 26 September 2004 for Research and the exploitation of hydrocarbons in the area called “Isarene”. The latter consists in blocks 228 and 229a on which an agreement had been reached between Sonatrach and the companies Petroceltic International PLC, Petroceltic Ain Tsila Ltd and Enel Trade Spa.

Algeria is one of the biggest oil and gas producer countries in Africa, and a major gas provider on the European market, with an enormous potential of about 300 trillion m3 stocks of schist hydrocarbons.