Does the Algerian state renounce the 51/49 investment rule, long considered to be part of the sovereignty of Algeria?
Sonatrach Vice President of Exploration and Production, Salah Mekmouche, today Monday, announced on “Channel 3” that Energy Minister, Mustapha Guitouni, has authorized company to “negotiate the sale of shares of Sonatrach or a change of control of certain entities here in Algeria”.
On the revision of the law on hydrocarbons, Mr. Mekmouche believed that “the revision of this law was necessary because it is not unique to Algeria, it is general. Many countries in the Mediterranean and elsewhere have practically changed their laws to attract the maximum number of investors”.
“Algeria is not left out and we have seen that the current law is a little restrictive for the partners, since it is a little the opinion of the partners that was given and we took into account”, he argued.