Algeria, February 16, 2020

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British Petroleum interested in resumption of investment in Algeria

Energy Minister Mohamed Arkab said Wednesday in Algiers that the British Petroleum Company British Petroleum (BP) had expressed in an official letter to the Ministry of Energy “its interest in the resumption of the ‘investment in the hydrocarbons sector in Algeria’.

“A few days ago, BP informed the Ministry of Energy, through an official letter, of its interest in resuming investment in hydrocarbons in Algeria,” Arkab told APS on the sidelines of the plenary session of the National People’s Assembly (APN) devoted to the debate on the Government’s Action Plan.

“The British Company is interested in resuming investment under the new Hydrocarbons Law, willing to expand its investments in Algeria,” he said.

The Minister of Energy said, on the other hand, that “BP has made no request for the transfer of its shares in the fields of Tiguentourine to In Amenas” (Wilaya of Illizi, South-East of the country) .

Media had relayed information last week about the oil company’s intention to sell its shares in the Tiguentourine fields.

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