A recent cooperation agreement between Algerian state giant Sonatrach and France’s Total could signal renewed attempts by the North African country to attract – or at least maintain – upstream IOC investment.
Algeria’s image as an attractive investment destination has been seriously tarnished in recent years, with tough fiscal terms considered one of the biggest obstacles. Following a new batch of appointments at Sonatrach and upstream regulator Alnaft, energy minister Nouredine Boutarfa has embarked on a charm offensive with foreign partners. But how much can be achieved is doubtful given critical unknowns looming over the country’s political future. (CONTINUED - 2284 WORDS)