A total of seven bids were received for the ‘Algeria Bid Round 2024,’ which was the first conducted under Algeria’s new hydrocarbon law No. 19-13, designed to enhance investment attractiveness through improved fiscal and contractual terms.
The awarding of exploration and production rights for the onshore Ahara Block is to a consortium comprising 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 51 percent.
His Excellency Mr. Saad Sherida Al-Kaabi The Minister of State for Energy Affairs President and CEO – QatarEnergy
“We are delighted to be awarded the Ahara Block exploration license, which marks our first entry into Algeria’s upstream sector and further and expands our footprint in Africa. 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.”
“TotalEnergies is delighted that its joint bid with QatarEnergy has led to the award of the Ahara Block Exploration license, allowing us to write a new chapter in our long-lasting partnership with SONATRACH in Exploration in Algeria,” said Patrick Pouyanné, Chairman and CEO of 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 square kilometers.
