Middle East Economic Survey

VOL. LIV

No 12

21-Mar-2011

ALGERIA

Bidding Round Flop Sounds Alarm For Algerian Upstream Investment

Algeria on 17 March awarded only two out of 10 blocks on offer in its latest upstream bidding round, with one of the awards going to state firm Sonatrach, Algerias official APS news agency reported. The failure, widely anticipated, is the most emphatic indication yet that Algeria needs to improve terms if it wants to attract foreign investment into its exploration...