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Tough terms and difficult conditions for unconventional exploitation could extend Algeria’s run of unsuccessful attempts to bring in IOCs.
Substantial interest in Algeria’s upcoming bid round is no guarantee that the latest attempt to attract international oil companies (IOCs) will be a success, as doubts remain over fiscal terms, the business environment and the feasibility of exploiting the country’s abundant unconventional resources.
Around 80 companies have qualified to take part in the bidding for the 31 blocks on offer, and have access to the data rooms provided by the government, according to Geoff Propert, managing director for North Africa at Irish independent Petroceltic, whose core asset is the 2.1 tcf Ain Tsila gas field in Algeria. (CONTINUED - 711 WORDS)