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Two Decrees on Exploitation of Hydrocarbons Adopted

Source: Algeria Times 7/23/2015, Location: Africa

Two presidential decrees relating to the contracts for the exploration and exploitation of hydrocarbons were adopted by the Council of ministers which held , Wednesday in Algiers, a meeting under the chairmanship of President of the Republic Abdelaziz Bouteflika.

The first text concerns the approval of twenty (20) contracts for the exploration and exploitation of hydrocarbons between the National Agency for the Development of Hydrocarbon Resources (ALNAFT) and national oil company SONATRACH, said the communiqué of the Council of ministers.

The areas covered by these contracts are located throughout several regions of the country, said the source.

Concerning the second presidential decree, it approves the amendment no 3 in the contract of 26 September 2004 for the exploration and exploitation of hydrocarbons over the area called "Isarene, concluded between SOTRACH and the companies Petroceltic International PLC, Petroceltic Ain Tsila LTD and Enel Trade Spa.

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