Privileges For Foreign Investors In Return For New Contracts Amid Sustained Oil And Gas Exploration

The Algerian Government has denied the country’s abandonment of the hydrocarbons sector, which is the mainstay of the national economy and which garners 95 percent of the country’s financial resources, and called on foreign investors to respond to its program meant to further develop exploration of the national oil and gas fields.
To this effect, the revamped hydrocarbons Act, will grant new concessions to investors under the investment rule 51/49.
A delegation headed by Interior Minister Noureddine Badawi, who was entrusted by President Bouteflika with overseeing the launching of the gas plant in Timimoun, also included energy minister Mustafa Guitouni, and Transport and Public Works minister, Abdelghani Zaâlane.
Mr Bedoui defended the energy complex of Sonatrach, stressing that the gas field is a new national achievement and translates the strategic vision of President Bouteflika, as it aims to shore up the potentialities of our country in terms of traditional energies and to allow the provinces of the South to make optimal use of their potential.
Mr Bedoui also stressed the will of the State to raise its productive capacity of Algeria’s energy needs for decades, and the development of an integrated national program based on the exploitation of all the country’s wealth through the fostering of partnerships and cooperation programs meant to have a positive impact.
The Minister of the Interior conveyed messages of reassurance to the people of the South, when he said that he attaches special importance to the southern provinces with the latter continuing to receive all support from the state institutions, pointing out that the President of the Republic Mr. Abdelaziz Bouteflika eagerly wants the Sahara to be at the heart of the national economy.
“Sonatrach has the character of my compatriots and remains closer to the people of the South by creating jobs and freeing them from the culture of despair,” said Mr Bedoui , stressing that “the energy industry and its workers have proven that they are capable of living up to the challenge by forging a positive partnership with French Total and Spain’s Cespa energy groups.”
Energy Minister Mustapha Guitouni pleaded for the national hydrocarbons company Sonatrach and said it was able to open up new partnerships, by offering solid guarantees for those wishing to invest in Algeria.
Mr. Guitouni said that Algeria is continuing to amend the legislative framework for the hydrocarbon sector by the end of the current year or early next year, noting that its partnerships with several international companies active in the field of hydrocarbons such as Total and Cespa, proved to be serious and credible”, as he put it.
“I am very happy to wrap up the project of the Timimoun gas complex, which will scale up the gas industry in our country, by strengthening our relations with our traditional partners and enhancing the Algerian energy sector,” he stated.
The minister added that the inaugurated gas field will hike the national production capacity of gas and will greatly bolster the position of Algeria in the near future on the international gas market.
“The inauguration of this new gas field is evidence that the national energy sector is steadily continuing to contribute to economic development, by creating new job opportunities and upgrading public service”, Mr. Guitouni further underlined in this respect.