Algeria has six onshore blocks currently in offer. (Image source: Adobe Stock)

Aiming consistent flow of investments upto US$50bn, the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) unveiled an ambitious five-year licensing strategy inviting both domestic and international investors, starting November 2024

With six onshore blocks currently in offer, the deadline for bid submissions is 15 April, following the evaluation of bids, contracts will be officially awarded in Algiers on May 29, 2025. These blocks include M’Zaid, Ahara, Reggane II and Zerafa II, which will be offered as Production Sharing Contracts (PSCs).

ALNAFT has compiled over 102,000 line-kilometers of 2D seismic data and more than 45,000 km² of 3D seismic data. This extensive dataset offers investors a clear and comprehensive view of Algeria’s subsurface potential, aiding in the identification of promising hydrocarbon prospects.

Preparation of the MOU-5 well pad has commenced on Guercif licence. (Image source: Predator Oil & Gas)

Jersey-based oil and gas company, Predator Oil & Gas Holdings Plc, is well on its way to begin drilling onshore Morocco around 25 February as civil engineering work to improve access roads and prepare the MOU-5 well pad has commenced on its Guercif licence at the MOU-5 drill site

This is part of the company's ambitous Guercif Compressed Natural Gas (CNG) project.

The CEO of Predator, Paul Griffiths, is hopeful that the Titanosaurus structure may be 'potentially transformational to the Company's already diversified asset base in a success case'. The potentially high-impact structure that it will be drilling lies right next to an existing gas infrastructure. Fiscally speaking, the company considers this a 'rare opportunity' given the dwindling gas storage reserves in Europe this winter and geopolitical concerns over security of gas supply.

Golden age for gas exploration

"Our hydrocarbon sector has seen a global resurgence of interest and activity outside of the UK and Europe over the past few months led by the United States, Norway, Middle East, Africa and Far East.

"We are potentially entering a 'golden age' for gas exploration and production to support: the energy transition by lowering CO2 emissions through replacing coal and oil; and to ameliorate energy price rises by increasing supply and security of access to gas at "crunch" times, when renewable energy cannot cope due to unattractive weather conditions.

"It is not often that macro geopolitical and economic factors align with a gas development strategy. We are currently in that cycle and ready to attempt to take advantage of it," said Griffiths. 

Predator takes gas production seriously as it considers development finance required for 'First Gas' from Morocco, besides aiming to supply CNG to the Moroccan industry. 

Kapana 1-X exploration well located on Block 2813B under PEL 90. (Image source: Sintana Energy)

Chevron has reported to have not found commercial hydrocarbons from the Kapana 1-X exploration well located on Block 2813B under Petroleum Exploration License 90 (PEL 90)

This comes after Shell's write down on PEL39. 

Operated by Chevron-subsidiary Harmattan Energy Limited, PEL 90 also includes Custos Energy-subsidiary Trago Energy with a 10% interest. 

Valuable geologic insights

Chevron, however, has acknowledged the data acquired from exploration operations as hopeful in terms of future programme on PEL 90. “The geologic insights and improved confidence in the future programme on PEL 90 from these operations provides strong support for continued progress and value in our portfolio in Namibia’s Orange Basin,” said Knowledge Katti, chairman and CEO of Custos. 

“We look forward to the many opportunities ahead to further unveil the quality of our unmatched position in the heart of the Orange Basin including the future activity on PEL 90 and the ongoing activity on PEL 83”. added Robert Bose, CEO of Sintana Energy, which enjoys a 49% indirect interest in Custos Energy.

The Mopane 1X well testing operations on PEL83 showed significant oil columns containing light oil in high-quality reservoir sands at two different levels: AVO-1 and AVO-2.

The company has completed major acquisitions. (Image source: Adobe Stock)

Trident Energy has completed the acquisition of the entire issued share capital of Chevron Overseas (Congo) Limited, as well as an additional working interest in the Nkossa and Nsoko II fields from TotalEnergies, resulting in an 85% working interest in the Nkossa and Nsoko II fields, and a 15.75% working interest in the Lianzi field

The company will become the operator of these fields. In addition, Trident Energy has acquired a 21.5% working interest in the Moho–Bilondo field, operated by TotalEnergies. The acquisition, which was announced in April 2024, is expected to add c.30,000 bopd. It is a significant deal for Trident Energy which has proven expertise in extending field life and unlocking production from mid-life assets as demonstrated by their takeovers in Brazil and Equatorial Guinea.

Jean-Michel Jacoulot, Chief Executive of Trident Energy ML said, “We are extremely pleased to have completed the acquisition which marks a new chapter in our history. We are excited to enter the Republic of Congo, take over the operations and deliver the full potential of these assets. We look forward to working with TotalEnergies Congo, the SNPC and the Congolese Government to generate further value to the assets. We would like to take the opportunity to thank the Ministry of Hydrocarbons, and the Government for their support on this transaction”.