Algerian state-owned energy company Sonatrach signed five oil and gas contracts on Monday with several foreign oil firms, with a total investment value of $600 million.
According to the Algerian Press Service (APS), the agreements are focused on exploration activities, and come as part of the outcomes of the international licensing round « Algeria Bid Round 2024 ».
These deals reflect Algeria’s ongoing efforts to attract foreign investment and boost its energy sector.
