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Algeria on Sunday launched a new international bid round for oil and gas concessions as it tries to draw in investment while global energy markets remain unsettled by the war in the Middle East. The tender, called Algeria Bid 2026, comes as oil and gas prices have risen sharply after the fighting disrupted flows through the Strait of Hormuz and damaged energy infrastructure in the Gulf.
The call covers seven blocks in strategic basins in the south and southeast of the country. Six of the blocks are being offered under production-sharing agreements with state company Sonatrach, while the seventh is a participation contract in which Sonatrach will keep at least a 51% stake.
Bids are due by November 26 and results are expected at the end of January. Hydrocarbons minister Mohamed Arkab said the round is meant to strengthen the sector’s attractiveness and consolidate Algeria’s position as a reliable destination for energy investment.
The government is aiming to invest between $50 billion and $60 billion to double gas production to 200 billion cubic metres by 2030. Algeria is already Africa’s largest gas exporter and became an important supplier to the European Union after Russian gas imports were cut following the 2022 invasion of Ukraine.
The energy sector remains the backbone of Algeria’s economy, with more than 90% of foreign currency earnings coming from hydrocarbons. The country is also in talks with Chevron and ExxonMobil on offshore fields and shale gas, underscoring its push to deepen foreign participation in its upstream industry.
