Algeria Set To Sign First Shale Contract

Algerian state firm Sonatrach is in final negotiations with an unnamed international oil company (IOC) to award a shale gas PSC. Either US firm Anadarko or Canada’s Talisman appears to be the firm in question.

The planned shale block award would take place outside of Algeria’s forthcoming bidding round for 31 blocks, a source familiar with the talks tells MEES.

The source would not provide further details except to say that the acreage lies in the eastern Berkine Basin and will cover a significant area. He would not identify the IOC but hinted that it was a North American shale producer. “I cannot tell you the name of the company, but we are hoping to sign a contract very soon, assuming no complications emerge during the negotiations,” the source said. (CONTINUED - 665 WORDS)