Algeria to review hydrocarbon law to encourage foreign exploration
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Algeria plans to review the law on hydrocarbons by introducing new incentives to boost foreign investment particularly in exploration, said Tuesday in Doha, Algerian Minister of Energy and Mines, Youcef Yousfi .
- Algeria plans to review the law on hydrocarbons by introducing new incentives to boost foreign investment particularly in exploration, said Tuesday in Doha, Algerian Minister of Energy and Mines, Youcef Yousfi .
- In a statement to the APS in Doha on the sidelines of 20th World Petroleum Congress, Mr. Yousfi explains the decision by the need to attract strong and experienced partner to help Algeria to increase its hydrocarbon reserves.
- The review focuses on some fiscal measures and contractual arrangements between the national company Sonatrach and its partners, said the minister.
- Algeria must adapt to the international reality, acknowledged Mr. Yousfi who added that: "We have largely comfortable oil reserves, but it must provide local security of supply in the very long term and strengthen the role of Algeria as a key player in international trade of energy."
- Ennaharonline/ M. O.
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