Algeria Increasingly Under Spotlight

Italy’s Enel unveiled its plans to expand in the upstream sector, after been awarded two gas exploration blocks in Algeria (Msari Akabli and Tinrhert).

‘Enel has been awarded, alongside oil and gas multinational Dragon Oil, two gas exploration blocks in Algeria in a bid round launched in January by Algeria’s oil licensing body ALNAFT, which is in charge of awarding contracts for the exploration and utilisation of hydrocarbons in the country,’ reads a note released on Thursday.

Algeria is increasingly coming under the spotlight and Enel is trying to take advantage of the current momentum. 

“The areas involved have huge exploration potential and are spread across the country,” Ruggero Aricò, Enel’s Director of External Relations in Algeria, commented.

FUTURE COOPERATION WITH CYPRUS?

It comes as no surprise that several countries are trying to intensify business ties with the North African country. 

On Thursday, Cyprus said it is trying to profit from Algeria’s experience in the gas sector. Cypriot Foreign Ministry Ioannis Kasoulides met with Algeria’s Youcef Yousfi to discuss cooperation opportunities. 

Earlier this year, the country announced it plans to begin shale gas production by 2022.