Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda

Algeria has gone on a renewed charm offensive with IOCs. Will this effort prove more successful than previously flopped attempts?

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.

TOTAL: NEW UPSTREAM PROJECT, TFT EXTENDED, TIMiMOUN DELAY

DATA INSIDE THIS ARTICLE

chart Total’s Net Algeria Output (‘000 Boe/D)