Algeria's National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) announced on Monday the launch of an international tender for upstream oil and gas projects dubbed 'Algeria Bid Round 2024,' according to local media reports.

ALNAFT Chairman Mourad Belghem made the announcement during the opening ceremony of the 12th edition of the Africa and Mediterranean Basin Energy and Hydrogen Conference and Exhibition (NAPEC 2024) in Oran.

The tender, the first in a series of bidding rounds scheduled over a five-year period, will offer exploration and production opportunities in six sites namely M’Zaid, Ahara, Reggane 2, Zarafa 2, Toual, and Kern El-Kassa.

Algeria Bid Round 2024 will be governed by a new hydrocarbons law aimed at attracting investments and foreign partners for developing the hydrocarbons sector.

Under Law 13-19 issued on 11 December 2019, ALNAFT is responsible for establishing the criteria and rules for the prequalification of investors and upstream operators for Algeria's hydrocarbons sector.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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