The attack in In Amenas will add to investor scepticism about Algeria. (Statoil)
Algeria’s energy sector was a tough place to do business even before the In Amenas hostage crisis. An unattractive fiscal environment deterred most oil companies from bidding in the three upstream licensing rounds held since 2005.
The first, in December 2008, resulted in the award of just four contracts from 16 licence areas on offer. The second yielded three contracts from 10 offered concessions.
The most recent, in December 2010, resulted in the licensing of two out of 10 concessions, one of which was awarded to Sonatrach,...
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