Algeria has launched a new international tender for hydrocarbon exploration blocks as it seeks to attract fresh investment into its energy sector amid global market disruptions triggered by the ongoing Middle East conflict.
The tender, titled “Algeria Bid 2026,” was announced on Sunday and includes seven exploration areas located in key southern and southeastern basins. Six of the blocks will be awarded under production-sharing agreements in partnership with state-owned energy company Sonatrach, while the seventh will be offered as a participation contract, with Sonatrach retaining a minimum 51% stake.
The move comes as global oil and gas markets face volatility following the escalation of conflict involving the United States, Israel, and Iran, which has disrupted supply routes and infrastructure, particularly around the Strait of Hormuz.
Algeria’s Minister of Energy and Mines, Mohamed Arkab, said the initiative is part of efforts to strengthen the country’s appeal to international investors and reinforce its position as a dependable energy supplier.
Interested bidders have until November 26 to submit their proposals, with results expected by the end of January 2027.
As part of its long-term energy strategy, Algeria plans to invest between $50 billion and $60 billion to double its natural gas production to 200 billion cubic metres annually by 2030.
The country is already Africa’s largest gas exporter and has played a critical role in supplying the European Union following the disruption of Russian gas imports after the 2022 Ukraine war.
Hydrocarbons remain central to Algeria’s economy, accounting for over 90% of its foreign currency earnings.
The government is also currently in discussions with major international oil companies, including Chevron and ExxonMobil, regarding potential investments in offshore and shale gas projects.
TNAM
Edited By Egwu Patience Nnennaya.
