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Wednesday, July 16, 2008

Algeria invites bids to explore 16 oil zones

CAIRO — Algeria has launched another effort to explore for crude oil.

The Algerian Energy Ministry has invited companies to bid to explore areas said to contain large oil reserves. On July 13, the ministry called on foreign companies to bid for 16 zones that contain 45 energy blocks, Middle East Newsline reported.

This marked the first tender to offer energy exploration in Algeria since 2005. Algeria, the leading natural gas exporter in North Africa, has sought to expand crude oil production.

Also In This Edition

A ministry statement set a Dec. 3, 2008 deadline for companies to prequalify for the tender. The statement said the winners would be announced on that same day. Companies would be allowed to choose to either compete for the role of operator and or investor.

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