Algeria is reportedly edging closer to striking deals with two American energy companies to develop its gas reserves, including shale.
The commercial aspects are still under discussion and are expected to be finalised soon with ExxonMobil and Chevron, Samir Bekhti, the chairman of the country’s energy regulator Alnaft said.
“The technical terms have almost been agreed upon”, he said. However, no financial details were given.
In 2024, state-owned Sonatrach signed preliminary agreements with Exxon and Chevron to develop natural gas and share gas reserves in the Ahnet and Berkine basins in the country’s south and east.
The company has also signed with China’s Sinopec to explore another shale-rich region.
“We want to unlock this potential and start working with those who have experience, regardless of whether they are Chinese, American, or European,” Bekhti said.
Meanwhile, Alnaft is preparing to launch a new bidding round for oil and gas blocks by the end of the first quarter of next year.
The latest tender in more than a decade was awarded to Italy’s Eni, France’s TotalEnergies and state-backed QatarEnergy.
The North African OPEC member holds the third-largest recoverable shale resources globally, report says, quoting the US Energy Information Administration.
