Despite Bid Round Flop, Some lOCs See Promise in Algeria

摘要

In the end, Royal Dutch Shell and Dubai-based Dragon Oil are the only new entrants to Algeria's upstream, after just four of 31 fields on offer in the country's latest bid round were awarded. Existing investors Spanish Repsol, Italy's Enel and Norway's Statoil rounded out the group. International oil company executives had warned of a flop, but the pathetic return is nonetheless a disappointment for Algiers given the host of legislative reforms and significant marketing effort state Sonatrach led since last year to drum up interest (EIF Apr.23'14).