APS : Tuesday, 05 June 2018
ALGIERS- The Council of Ministers on Tuesday adopted three presidential decrees on contracts for hydrocarbon exploration and exploitation, during a meeting chaired by President of the Republic Abdelaziz Bouteflika.
The first decree is about a contract on hydrocarbon exploitation in the area of Timimoun (blocks 325a and 329), signed between the National Agency for Hydrocarbon Resource Development (ALNAFT) and the consortium made up of the national hydrocarbon company Sonatrach, Total Algeria and CEPSA Algeria, said the Council of Ministers’ statement.
The Council of Ministers also approved an additional clause to the contract between Sonatrach and the Spanish company CEPSA for the exploration and exploitation of the area of Rhoude Yacoub (block 406a), with a view to extending for a maximum period of 36 months the exploitation of this area.
The third decree concerns the additional clause to the contract between ALNAFT, on the one hand, and Sonatrach and its partners Dragon Oil and Enel, on the other hand.