Algeria May Sweeten Investment Terms

摘要

Algerian Energy and Mines Minister Youcef Yousfi told the World Petroleum Congress in Doha on Tuesday that the country was reviewing its hydrocarbon law in order to attract more investment. “We have to adapt to international reality. We have pretty comfortable reserves of energy, but we need to ... ensure the long-term security of supply and reinforce Algeria’s role as a major player in the international energy trade,” Yousfi said. Interest in Algeria’s upstream has been lackluster since 2006, when an amendment was enacted tightening the terms of the country’s 2005 oil law and a new tax on international oil firms’ windfall profits was introduced. The three bid rounds held since — in 2008, 2009 and 2011 — saw many blocks left unawarded and have raised concerns that Algeria may struggle to fill its new gas export infrastructure. Both tax and production-sharing terms are under review, Yousfi said.