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Algerian government postpones its oil and gas bids to September

The Algeria government has postponed invitation for its oil and gas bids by a month, after a number of foreign energy companies requested for more time to access all the potential perimeters.

Announcing the decision to delay the opening of the bids, the president of Algeria’s national hydrocarbons agency ALNAFT said in the press statement that some foreign firms had requested for more time to access the potentially of all the perimeters, hence leading to the postponement.

“Some foreign firms asked us for more time to assess the potential of all perimeters. We have accepted their request.” Sid Ali Betata, the president of Algeria’s national hydrocarbons agency ALNAFT said.

“Bids will be opened in September. This decision means contracts are due in October.” He concluded in the press statement.
The Algeria government had initially planned for the opening of bids for its new oil and gas energy bidding round in August this year, but it now seems it will take a little longer to realize the projects as the firms embark on accessing the viability of the perimeters.

The government had, in January, launched an energy bidding round consisting of an offer of 31 fields, setting bids opening for August 6. Winning firms were due to sign contracts on September 5.

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