Algeria: Total and Repsol renegotiate TFT contract

Total and Repsol have become the latest international companies to renegotiate an Algerian production concession. On 11 June, they and their partner the national oil and gas company Sonatrach signed new 25-year contract with industry regulator Agence Nationale pour la Valorisation des Ressources en Hydrocarbures (Alnaft) under terms set out in the current version of the hydrocarbons law. Better terms and conditions will not become available until 2019 at the earliest, when amendments to the law are expected to be formally introduced.