Algeria has secured foreign investment in its first exploration licensing round since the January 2013 In Amenas attacks that killed 40 foreign workers. But the award of just four permits casts doubt on the appeal of its upstream. The country is hoping that the results signify a turnaround in its oil and gas sector, where unattractive terms and a disappointing record of discoveries had dimmed upstream interest even before the In Amenas attacks. Upstream regulator Alnaft has awarded five foreign firms rights to four permits from the 31 available in this year’s round (see table). This represents a modest improvement from a 2010- 11 round, when only one foreign investor won rights to a permit (WPA, 21 March 2011, p12).
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