Algeria: Alnaft criticised following fourth licensing round failure
The failure of the fourth licensing round in seven years to attract substantial interest from international oil companies (IOCs) presents the energy authorities with a quandary. They must either introduce reforms to commercial terms and operating conditions to re-engage exploration companies’ interest, or rely on state oil and gas company Sonatrach taking over full responsibility for identifying and developing badly needed additional reserves. Both options are fraught with difficulty, but they remain the only routes available to alleviate the macroeconomic pressures caused by the growing gap between production capacity and likely future demand.
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