Algeria Opens Bidding for Oil & Gas Development

The Algerian national development hydrocarbon agency (ALNAFT) plans to announce a round of bids to bring foreign investment to its oil and gas sector, according to Energy Minister Mohamed Arkab. Major international firms are expected to participate, including Exxon Mobil, Chevron, ENI, and Sinopec.

Algeria's national hydrocarbon development authority, ALNAFT, is poised to launch a new bidding round aimed at drawing foreign investment into its oil and gas industry. This latest initiative was confirmed by Algeria's Energy Minister Mohamed Arkab during a press briefing on Monday.

The bidding process is expected to attract significant attention from global industry leaders. Notable names anticipated to join the round include Exxon Mobil, Chevron, ENI, and the Chinese giant Sinopec.

With this move, Algeria seeks to bolster its oil and gas sector by welcoming international expertise and capital, thus fostering growth and innovation within its energy landscape.

(With inputs from agencies.)