7.500
%
Neutral
66
mm boe
31
%
Algeria remains a difficult place to operate, with limited scope for external participants other than Majors. While the tax laws have varied regularly, the recent environment has been stable and, therefore, supportive. However, presidential elections are expected in December 2024 and could induce some instability. We reiterate our Neutral outlook.
January 25, 2024
Africa - North
mm bbl
bcf
Northern Africa, bordering the Mediterranean Sea, between Morocco and Tunisia.
PSC/PSA
Depending on the date on which the petroleum contract was signed, the Algerian fiscal regime applicable to the oil and gas upstream industry is governed by one of a number of legal frameworks.
The National Liberation Front has dominated Algerian politics ever since independence from France in 1962. President Abdelaziz Bouteflika was forced out in 2019, and Abdelmadjid Tebboune was elected president later that year. Following the June 12, 2021, parliamentary elections, Minister of Finance Ayman Benabderrahmane was appointed prime minister. Algeria’s weak economy and widespread disillusionment with the political system have undermined political stability. The government has adopted protectionist measures to encourage domestic production. Algeria is the world’s sixth-largest exporter of natural gas. Oil and gas account for almost 95% of export revenues and more than 30% of GDP.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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