Latest news with #MohamedArkab
El Chorouk
21-07-2025
- Business
- El Chorouk
Hydrocarbons: 'Signing of 5 major contracts worth over $600 million USD'
On Monday, the Minister of Energy, Mines, and Renewable Energies, Mr. Mohamed Arkab, oversaw the signing ceremony of 5 hydrocarbon contracts with foreign partners, with a total investment value of no less than $606 million USD, for a period extending up to 30 years. According to a statement from the supervising ministry, these contracts are part of the results of the 'Algeria Bid Round 2024,' which is the first international competition organized under the new Hydrocarbons Law No. 19-13. This round resulted in the awarding of 5 out of six proposed blocks for contracts extending over 30 years, including 7 years dedicated to exploration work, with a minimum total investment estimated at $606 million USD. A 'participation' contract was signed between Sonatrach and the alliance of Swiss company 'Philada' and Austrian company 'ZenGas,' concerning the 'Toual 2' block (Berkine Basin) in the southern wilayas or provinces of Ouargla and Illizi. Sonatrach also signed a 'participation' contract with the Chinese company 'Sinopec,' concerning the 'Gourn El Goussa 2' block (Gourara-Timimoun Basin) in the southern provinces of Bechar, Beni Abbes, El Bayadh, and Timimoun. The third contract was in the form of 'production sharing' between Sonatrach and the alliance of the Italian consortium 'Eni' and the Thai 'PTTEP,' concerning the 'Reggane 2' block in Adrar wilaya. A 'production sharing' contract was also signed between Sonatrach and the Chinese company 'ZPEC,' concerning the 'Zarafa 2' block (Ahnet-Gourara Basin) in the wilayas of Adrar and In Salah. The fifth contract was signed in the form of production sharing between Sonatrach and the alliance of 'Qatar Energy' and 'TotalEnergies,' concerning the 'Ahara' site in southern Illizi province. The same source confirmed that these results reflect the attractiveness of the new investment climate in Algeria, supported by a modern and flexible legal framework, and a clear strategy aimed at strengthening value-added partnerships, especially in the fields of exploration and the valorization of national hydrocarbon resources. The statement indicated that through this step, Algeria reaffirms its commitment to supporting sustainable investments in the energy sector, thereby enhancing its contribution to economic development and consolidating its position as a reliable and promising destination in the field of hydrocarbons at the international level.
African Manager
19-05-2025
- Business
- African Manager
Energy Transition in Tunisia and Mediterranean Partnership
Energy transition is a crucial challenge for Tunisia. By diversifying its energy sources and reducing its dependence on fossil fuels, the country can enhance its energy security, cut greenhouse gas emissions, and create new jobs. The direction is clear, and the ambition is set: Tunisia aims to green its energy mix by focusing on renewable sources. The goal is ambitious—reaching 30% renewable energy by 2030, equivalent to a production capacity of 4,800 megawatts (MW). However, the reality on the ground is far from ideal. Strengthening Mediterranean partnerships for a successful transition The success of Tunisia's energy transition depends on reinforcing Mediterranean partnerships in this field, stated the Secretary of State for Energy Transition in Sorrento, Italy. Tunisia is ready to play its role in this domain and share its expertise to build a sustainable energy future while ensuring energy supply at both national and regional levels, he said during the International Forum 'Towards the South' held on May 16-17 in the Italian city, according to the Ministry of Industry, Energy, and Mines. The official outlined the key pillars of Tunisia's 2035 Energy Strategy and the reforms undertaken by the ministry to diversify the energy mix. He emphasized the importance of deeper regional integration to address energy market instability and support industrial development. Spotlight on the ELMED Project The Secretary of State also held discussions highlighting the ELMED project, a future Tunisia-Italy electrical interconnection, set to become the first high-voltage direct current (HVDC) link between Europe and Africa. This project is backed by the European Union, described as Tunisia's 'strategic partner' in the energy sector. On the sidelines of the forum, the official met with Algerian Energy Minister Mohamed Arkab, accompanied by the CEOs of Sonatrach and Sonelgaz, to discuss the development of a tripartite electrical interconnection between Tunisia, Algeria, and Libya. Additionally, he held talks with Nicola Monti, CEO of Italian energy group Edison, on cooperation in energy innovation. Funding for Municipal Energy Efficiency Projects The National Agency for Energy Conservation (ANME) has launched a second call for applications to finance municipal energy efficiency projects, with the deadline approaching soon. Selected municipalities will be eligible to request loans from the Local Authorities Support and Loan Fund (CPSL). This initiative is part of the ACTE Program, led by ANME in collaboration with the Ministry of Environment, CPSL, and the Training and Decentralization Support Center. The call aims to encourage Tunisian municipalities to develop innovative green projects in three key areas: Energy efficiency, optimizing energy use in municipal buildings, vehicle fleets, and public lighting networks, renewable energy, primarily self-consumption projects to reduce reliance on fossil fuels and territorial studies, improving municipal energy performance, including urban mobility studies. The ACTE Program continues to drive local energy transition, building on a first call in 2020 that selected 11 projects, now underway. These projects, worth 2.7 million dinars, received a grant exceeding 837,000 dinars from the Energy Transition Fund (FTE). Eligible municipalities (under Decree No. 2014-3505 of September 30, 2014) can apply for this mechanism. While municipalities must provide self-financing, they can also secure CPSL loans. FTE grants cover 20% to 70% of total project costs, with ceilings ranging from 20,000 to 100,000 dinars (…).
Zawya
09-04-2025
- Business
- Zawya
Algeria, Italy advance talks on Medlink electric interconnection project
Algeria and Italy have resumed high-level discussions on the proposed Medlink project, which involves the development of large-scale renewable energy generation and transmission infrastructure between the EU, Algeria and Tunisia Algerian Minister of Energy, Mines, and Renewable Energies Mohamed Arkab met with Claudio Descalzi, CEO of Italy's Eni, to review progress on the initiative, a report by local Arabic news website Elchoroukonline said on Tuesday. The report quoted an official statement from the Ministry as saying that talks focused on the 2,000-megawatt (MW) subsea power interconnection that would directly link the electricity grids of Algeria and Italy. The report said for Algeria, the project represents a significant step in positioning itself as a reliable green energy exporter, backed by surplus generation capacity from recent investments in renewables and power infrastructure. (Writing by Majda Muhsen; Editing by Anoop Menon) (
Saba Yemen
06-04-2025
- Business
- Saba Yemen
Algeria Calls on Oil-Producing Countries to Commit to Production Cuts
Algeria - (Saba): Algeria participated in the 59th meeting of the OPEC Joint Ministerial Monitoring Committee via videoconference to discuss the state of the oil market and its development prospects. The Algerian delegation was headed by Energy Minister Mohamed Arkab, with other officials in attendance. The meeting discussed the participating countries' commitment to the agreed-upon production cut levels for January and February. Arkab stressed the importance of ongoing coordination among member states to address challenges, with a focus on optimally utilizing energy resources and diversifying project financing, especially in light of the challenges of the energy transition. He also pointed to the need to strengthen regional cooperation and develop financing tools to achieve self-sufficiency in Africa. Whatsapp Telegram Email Print
Zawya
11-02-2025
- Business
- Zawya
Trans-Sahara gas pipeline stakeholders to meet in Algeria
Algeria and two other African nations are devising a roadmap to push ahead with a 4,000-km gas pipeline that could supply gas to Europe via Africa. The roadmap will be discussed at talks in Algiers on Tuesday between Algerian Oil Minister Mohamed Arkab and the energy ministers of Niger and Nigeria, the official Algerian news agency said. It quoted an Algerian Oil Ministry as saying in a statement on Monday that the three countries are committed to pursuing this strategic project. 'The talks today will focus on progress made in the preparation of a roadmap to execute this project,' the statement said. The Trans Saharan Gas Pipeline (TSGP), which has been discussed for years, will link gas sites in Nigeria, Niger and Algeria, where it will also be connected to the existing pipeline network. Officials have said it would be an opportunity for Europe to diversify its gas supply sources. (Writing by Nadim Kawach; Editing by Anoop Menon)
