Algerian Radio
The National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) announced on Tuesday in a press release the granting of a prospecting authorization in Algeria to British Petroleum (BP) for the Eastern Basin.
"Within the framework of its strategy aimed at strengthening the attractiveness of the national mining domain and promoting new exploration opportunities, ALNAFT announces the granting of a prospecting authorization to BP, a major player in the global energy industry," the Agency stated in its communiqué.
The return of the giant BP to Algeria constitutes "a strong signal of renewed confidence from international companies in the potential of the Algerian mining domain as well as in the partnership framework promoted by ALNAFT."
Recalling that the Algerian mining domain, which covers more than 1.7 million km², offers vast areas with high potential amid rapidly evolving exploration technologies, ALNAFT emphasized that it is driving "a new dynamic based on innovation and the integration of advanced technologies, in order to improve subsoil knowledge and open new prospects for the valorization of hydrocarbon resources."
The authorization granted to BP "is part of this dynamic and targets the Eastern Basin, with the ambition of mobilizing cutting-edge technologies in prospecting operations to deepen the knowledge of this region's energy potential."
Through this initiative, ALNAFT reaffirms its desire to "consolidate the exploration momentum, mobilize top-tier international investment, and support the sustainable development of the hydrocarbon sector in Algeria, confirming the country's position as a strategic destination for energy exploration on an international scale."
