New Law on Hydrocarbons includes Privileges to Foreign Investors

The new law on hydrocarbons, to be issued before the end of 2012, includes encouraging measures for the foreign investors, in the field of hydrocarbons’ exploitation (oil and shale gas), in order to share risks with the large international groups, that use high and expensive technology in this area, as “Sonatrach” investments in the field of the modern hydrocarbons is expected to exceed the level of $ 30 billion over the next five years, General Manager of “Sonatrach” Abdel-Hamid Zarguine said.Algeria started last June in drilling the first well of gas shale in the area of Ahanet, Ain Salah (southern Algeria), after a short period of issuing the first study of the International Atomic Energy Agency, which indicated the existence of huge re