Doha, June 18 (QNA) - QatarEnergy has won an onshore exploration license in the People's Democratic Republic of Algeria as part of the "Algeria Bid Round 2024," marking its first entry into Algeria's upstream sector.

The results of the competitive bid process were announced by the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), awarding exploration and production rights for the onshore Ahara Block to a consortium comprising of QatarEnergy with an effective interest of 24.5%, TotalEnergies (the operator during the exploration phase) with an effective interest of 24.5%, and Algeria's national state-owned oil company "Sonatrach" with an effective interest of 51%

Commenting on the award, HE Minister of State for Energy Affairs, President and CEO of QatarEnergy Saad bin Sherida Al Kaabi said, "We are delighted to be awarded the Ahara Block, which marks our first entry into Algeria's upstream sector and further and expands our footprint in Africa."

His Excellency added, "I would like to take this opportunity to congratulate and thank the Algerian Ministry of Energy, Mines, and Renewable Energies and ALNAFT on the successful management of this bid round. We look forward to a successful and collaborative exploration endeavor with the Ministry alongside ALNAFT, Sonatrach, and TotalEnergies."

Located in eastern Algeria at the intersection of the prolific Berkine and Illizi Basins, the Ahara Block covers an area of approximately 14,900 km². (QNA)