Whilst foreign investors in Algeria’s upstream include an unlikely assortment of Asian NOCs, one firm heading for the exits is Malaysia’s Petronas.
Petronas has decided to divest its oil and gas assets in Algeria, it said in the press release accompanying its H1 2017 results, published on 25 August. The decision was taken in the context of “the company’s portfolio high-grading efforts,” which also include the decision not to proceed with the extension of a production sharing contract in Vietnam. The company has however secured a new exploration block in Mexico, highlighting Algeria as one of the company’s less valuable assets. (CONTINUED - 670 WORDS)
