Algeria needs more IOC capex. Will a new oil law, promised for 2019, do the trick?

Total and Repsol have signed a 25-year contract extension at their Tin Fouyé Tabankort (TFT) wet gas field on Block 238 in Algeria’s Berkine basin. The firms, together with Algerian state giant Sonatrach, agreed on 11 June to invest $324mn, drilling 11 additional wells and installing a gas compression unit to counter low pressure at the aging field.

However the companies will see their stakes...