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ROC Oil Prepares to Enter the Algerian Hydrocarbon Market

The Algerian oil sector is preparing to welcome a new player of international stature. The Australian group ROC Oil has announced its intention to acquire 90% of the shares of the Swedish group Tethys Oil, for an amount estimated at 185 million dollars. This operation should allow ROC Oil to establish itself in the Algerian hydrocarbon market, Tethys Oil having already established a memorandum of understanding with the national company Sonatrach.

The acquisition, which is scheduled to be finalized on October 25 subject to regulatory approvals, is part of ROC Oil’s expansion strategy towards โ€œenergy regions of strategic importanceโ€. ROC Oil’s interest in Tethys Oil can be explained in particular by the latter’s promising assets, which include not only its presence in Algeria but also a 30% stake in blocks 3 and 4 in Oman, operated by CC Energy.

The memorandum of understanding signed last April between Sonatrach and Tethys Oil concerns the exploitation of hydrocarbon deposits in El Hadjira II and Haiad II. These regions near major Algerian oil and gas centers present considerable potential. El Hadjira II is approximately 100 km north of the Hassi Messaoud field, while El Haiad II is close to the Touat oil fields, operated by Eni.

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The arrival of ROC Oil on the Algerian market comes in the context of increasing attractiveness of the country’s hydrocarbon sector. Algeria, rich in natural resources and benefiting from a strategic geographical position close to the European market, is increasingly attracting the attention of international investors. The Algerian authorities have recently relaxed the legislative framework to encourage foreign investment in the energy sector.

This operation illustrates the growing interest of international players in the Algerian hydrocarbon market, highlighting the economic and strategic potential of the country in the global energy sector.

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