Algeria Opens 2nd Bid Round For Oil, Gas Exploration

Algeria Opens 2nd Bid Round For Oil, Gas Exploration
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Δευ, 27 Ιουλίου 2009 - 19:19
Algeria will launch Monday its second round of tenders for oil and gas exploration and production in 12 southern fields, the country's energy agency said.
Algeria will launch Monday its second round of tenders for oil and gas exploration and production in 12 southern fields, the country's energy agency said.

The second round of bids comes after its successful tender last year, the National Agency for Valorization of Hydrocarbon Resources said in a statement Sunday.

In the previous tender ended in December, 11 licenses failed to receive any bids as oil prices fell and companies were hit by the financial crisis.

The four winners were E.ON AG (EOAN.XE) unit E.ON Ruhrgas AG and OAO Gazprom (GAZP.RS)--both of which were making their first foray into Algeria--and BG Group PLC (BG.LN) and ENI SpA (E).

Rosneft (ROSN.RS), Talisman, Royal Dutch Shell PLC (RDSB.LN), BP PLC (BP) and Repsol were expected to make an offer but ultimately didn't submit any bids.

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