Algeria Reaps the Fruits of the Hydrocarbons Law That Many Wanted to Abort!

As months and years passed, it became clear that Algeria is actually reaping the fruits of the hydrocarbons law of 2019, which raised the ire of many at the time, especially since its discussion took place during the height of the popular movement and protests. It has been established that the new legislative text is motivating and attractive to foreign energy companies, many of which are classified as 'giants', and it allows for new partnerships either through tenders or bilateral contracts, in addition to protecting national resources through the right of preemption. In this context, the National Agency for the Valorization of Hydrocarbon Resources (ALNFT) announced on Tuesday, in a statement seen by 'Echorouk', the granting of an exploration license to 'British Petroleum' (BP) in Algeria in the eastern basin.