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Algeria Urges Companies to Invest in Upstream

Source: Algeria Times 6/6/2016, Location: Africa

Only 40% of the mining deposits is prospected, said in Algiers President of the executive committee of the National Agency for the Promotion of Hydrocarbon Resources (Alnaft), Sid Ali Betata, calling on the oil companies to invest in oil upstream activities for the regulatory and fiscal advantages offered by the Algerian market.

"The mining field, with poor drill density in comparison with the international average is exploited only at 40%, the remaining 60% constitutes opportunities to develop win-win partnerships," said Betata during a conference on mining drilling activities.

According to him, the overall mining field is estimated at 1.5 million km², which 60% is open to drilling by foreign companies, which can obtain licences to conduct drilling activities like seismic acquisitions, geological studies and stratigraphic drillings.

This potential which concern oil, gas and condensate are notably located in Algerian central and south-western Sahara basins, besides the several opportunities in the north of the country.

"The mining field is still under-exploited, which reflects the importance of the effort which remains to be done. This is why intense efforts of exploration and development of the already made discoveries are needed as part of the programme of the energy policy in term of hydrocarbons," said Betata.

The same official said that this conference expressed the public authorities' willingness to give "a new impetus to dialogue, consultation and exchange of information with our partners so to explain the incentives to the operators interested in the drilling operations."



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