Algerian PM orders Khelil to implement new regulations for energy foreign investments

Algerian head of government Ahmed Ouyahia has ordered the energy and mines Minister Chakib Khelil to start implementing the new regulations pertaining to the revised shares accrued to foreign companies willing to invest in the Algerian energy and mining sectors.

• Under the new regulations enforced at the initiative of the President of the Republic Abdellaziz Bouteflika, the Algerian state’s share in the capital of any new foreign investment in the energy and mining fields will vary between 51 percent and 70 percent.
• The share attributed to foreign companies established in Algeria as part of these investments, either in joint ventures or direct investment deals, will range between 30 percent and 49 percent.
• In any case, Algeria’s capital share will not be less than 51 percent, according to authorized sources.
• Chakib Khelil has also been enjoined by the Algerian  Prime Minister to usher in negotiations with some foreign energy firms with the aim of thrashing out a reference agreement taking well into account Algeria’s vital economic interests.