ORAN- Energy Minister Abdelmadjid Attar said on Wednesday that the 43 implementing texts for the new hydrocarbons law will be ready in the first quarter of 2021.
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“The development of 32 implementing texts out of the 43 concerning the new hydrocarbons law (19/13) is completed,” said the minister on the sidelines of the sixth conclave of the committee of experts responsible for drafting these texts, providing for the finalization of all texts, the 1st quarter of 2021.
Mr. Attar specified in this context that these texts consist of 38 application texts and 5 files concerning the definition of the nature of the contracts in relation to the partnership, specifying that the 32 finalized application texts have been filed with level of the General Secretariat of the Government and that the Council of Government which meets every Wednesday, examines and adopts two texts at each meeting.
The minister highlighted the record time – six months – during which these texts were drawn up, welcoming the efforts undertaken by the members of the said committee composed of Directors and technicians from different departments of the ministry and its various agencies, in addition of the Sonatrach group and the Naftal company.
Referring to the characteristics of the new hydrocarbons law, the minister indicated that it was different from previous laws, in particular as regards the facilitation of partnership, the attraction of investments and the strengthening of exploration to increase the capacity of production and reserves, regretting “certain bureaucratic practices which had delayed and slowed everything down”.
“This law offers the opportunity to relaunch the partnership through an attractive investment climate and reduced taxation”, he added, indicating that the exploration of new wells requires significant new investments that Sonatrach cannot. achieve on its own “.
Read also: New law on hydrocarbons: 43 implementing texts soon to be published
“The development of partnership and investment are able to increase production capacities and reserves, given that Algeria consumes more than 50% of its production of gas and petrochemicals”, declared the Minister. , announcing that “Algeria will launch a campaign to promote the advantages of this new law as soon as the application texts are finalized if the epidemiological situation (Covid-19) improves”.
Sonatrach will also make partnership offers about 14 or 15 projects concerning the development of small wells which number around 100, most of them gas wells, said Mr. Attar, stressing that this trend aims to ensure the energy security of the country.
The expert committee will continue its work, opened Wednesday evening by the Minister of Energy and which will last four days.
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