Algeria invites bids for oil/gas exploration

ALGIERS - Algeria, unveiling details of its latest exploration and production licensing round, invited prequalified companies on Sunday to bid for acreage containing what it called high potential for petroleum resources.

By (Reuters)

Published: Sun 13 Jul 2008, 5:49 PM

Last updated: Sun 5 Apr 2015, 12:49 PM

An official statement on the Energy and Mines Ministry website said the deadline for bids for 16 zones containing 45 blocs was 1000 (0900 GMT) on 3 December 2008 and the winners would be announced two hours later at 1200 (1100 GMT).

Companies may bid to become an operator and/or an investor, the statement said. The round, the first since April 2005, has been keenly awaited by multinational companies preparing to compete for permits to explore for oil and gas in Algeria, which is among the world's top owners of oil and gas reserves and a major gas exporter to Europe.

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