Algeria’s Recent Oil Exploration Bid Round: Not Enough Takers and Why

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Statoil resumed its work in the In Amenas site on September 2014, and expanded a bit more by winning a Timissit Permit License in the Illizi-Ghadames Basin onshore Algeria, in partnership with Shell. The license is located in southeastern Algeria, not too far from the Libyan border, covering an area of 2,730 square kilometers. Statoil will be the operator, owning 30% equity, Shell will hold 19% and, per the Algeria law known as 51%/49%, the remaining 51% will be held by Sonatrach. Continue here.