Algeria is calling oil companies to invest in oil upstream activities in the country, emphasizing the regulatory and fiscal advantages offered by the Algerian market. The President of the Executive Committee of the National Agency for the Promotion of Hydrocarbon Resources (Alnaft), Sid Ali Betata, lamented recently, during a conference on mining drilling activities, that only 40% of the mining deposits is prospected, Algeria Press Service reported.
He said that the mining field has a poor drill density in comparison with the international average and “the remaining 60% constitutes opportunities to develop win-win partnerships.”
According to My Informs, Betata added that intense efforts of exploration and development of the already made discoveries are needed as part of the program of the energy policy in term of hydrocarbons.
Meanwhile, last May EU Climate and Energy Commissioner, Miguel Arias Cañete, urged Algeria to consider more investments during the first EU-Algeria Energy Business Forum, saying: “Algeria needs to bring in more investment if it is to maintain its exports to the EU in the long term.”