Doha: QatarEnergy has secured an onshore exploration license in Algeria as part of the “Algeria Bid Round 2024,” marking its inaugural venture into Algeria’s upstream sector.
According to Qatar News Agency, the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) announced the results of the competitive bid process, granting exploration and production rights for the onshore Ahara Block to a consortium. The consortium includes QatarEnergy with a 24.5% effective interest, TotalEnergies, who will operate during the exploration phase, also with a 24.5% interest, and Algeria’s national state-owned oil company, Sonatrach, holding a 51% effective interest.
HE Minister of State for Energy Affairs, President and CEO of QatarEnergy, Saad bin Sherida Al Kaabi, expressed satisfaction with the award, highlighting it as QatarEnergy’s first entry into Algeria’s upstream sector and an expansion of its presence in Africa. He extended gratitude to the Algerian Ministry of Energy, Mines, and Renewable Energies, and ALNAFT for managing the bid round, and expressed anticipation for a successful exploration collaboration with the Ministry, ALNAFT, Sonatrach, and TotalEnergies.
The Ahara Block is situated in eastern Algeria at the intersection of the Berkine and Illizi Basins, covering an area of approximately 14,900 km².