HomeMagazine2015September 2015, Vol. 242, No. 9World News: Algeria Reforms Laws to Attract Foreign Investment

September 2015, Vol. 242, No. 9

Features

World News: Algeria Reforms Laws to Attract Foreign Investment

A Today in Energy brief from the U.S. Energy Information Administration said Algeria is reforming its laws to attract foreign investment in hydrocarbons. Algeria is the third-largest oil producer in Africa, after Nigeria and Angola, and the largest natural gas producer in Africa. However, production of both oil and natural gas has declined over the past decade. Laws on foreign investment and technology improvements in hydrocarbons were altered to attract the investors. In 2014, national oil and gas company Sonatrach offered 33 blocks, located in four sedimentary basins, with high shale gas and oil potential. The auction led to contracts with Repsol, Shell, Statoil and Dragon Oil-Enel. By l

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