Algeria Launches 2nd Bid Round for O&G Exploration

Confirmed by the North African country's energy agency, Algeria will today launch its second round of tenders for the exploration and development of 12 oil and gas fields.

In a statement issued a day ahead of the opening, the National Agency for Valorization of Hydrocarbon Resources said that the licensing round follows the success of last year's tender, which ended December 2008.

In this last round, however, 11 licenses did not receive bids amid the unravelling of the global economy and plunging oil prices, according to Dow Jones Newswires. Winners in last year's licensing round were E.ON, Gazprom, BG Group and Eni.

Algeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), pumped an estimated 1.42 million barrels per day of crude oil in 2008.