Algeria is seeking to drum up interest among international oil companies (IOCs) in its upstream sector ahead of its long-awaited licensing round. Though it is scheduled for early next year, some in Algiers are cautiously optimistic the round could be launched before the end of the year.
This comes as the country’s oil sector looks to bounce back following January’s In Amenas massacre, which till now has completely overshadowed long overdue efforts on the part of the Algerian government to reform the oil law in order to attract investment. Previous licensing rounds (2010, 2009 and 2008) generated weak interest from IOCs despite the country’s undoubted resources. (CONTINUED - 423 WORDS)