Sonatrach this week added Norway’s Equinor and China’s Sinopec to the long list of IOCs to have signed upstream MoUs with the Algerian state oil firm. A total of 14 have now been signed since early 2020 (see table).
But the country’s new oil law, slated to govern fresh investment, remains inactive 16-months after nominally coming into force (MEES, 10 January 2020). The energy ministry has been for many months working on what it is calling the law’s “implementation texts.” Once these are finalized, the ministry will be officially ready to make awards. (CONTINUED - 689 WORDS)
