Oil Industry Circles Evaluate the Impact of Amendments to the Hydrocarbon Law

摘要

After the surprise announcement by the Algerian government in July that it was to introduce two amendments to the 2005 Hydrcarbon Act,international oil industry circles are trying to evaluate their impact on the likely profitability of future oil and gas projets in Algeria and the country's attractiveness for foreign investors.This issue is that much more topical insofar as the Minister of Energy and Mines,Mr.Chakib Khelil,had referred to the potentially"dissuasive"impact of these amendments,while adding that they were unavoidable(in the political sense of the word).The key aspect of the government's amendments relates to Sonatrach's participation in field development projects arising from commercial discoveries made by foreign companies operating in Algeria(there is also a change in taxation enabling the state to benefit more from the rise in oil prices under old contracts,but this is less important).