Algeria has invited Azerbaijani oil and gas companies to participate in the Algeria Bid Round 2026 international tender, which includes seven blocks for geological exploration, Report informs citing the Algerian Ministry of Hydrocarbons.
The invitation was extended during a meeting between Algeria's Minister of State and Minister of Hydrocarbons Mohamed Arkab and Azerbaijani Energy Minister Parviz Shahbazov on the sidelines of the 28th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) in Moscow.
The officials reviewed the current state of bilateral ties in the hydrocarbon sector and discussed prospects for expanding cooperation. Special attention was paid to well servicing, field development, hydrocarbon transportation, oil refining, and petrochemicals. In this context, they analyzed investment opportunities and partnership prospects between Algeria's Sonatrach and Azerbaijan's State Oil Company (SOCAR) across the entire value chain.
The sides also emphasized the importance of intensifying the exchange of practical experience, technical expertise, and professional training to boost efficiency across various segments of the oil and gas industry.
The ministers discussed holding the first meeting of the Joint Working Group on oil and gas cooperation in Baku in November 2026, and convening the Joint Commission on trade, economic, scientific, and technical partnership in the first half of 2027.
Additionally, they exchanged views on the current state of global hydrocarbon markets and threats to energy security, emphasizing the importance of continued coordination within both the OPEC+ and GECF frameworks to maintain market balance.
The Algeria Bid Round 2026 marks the country's second-ever tender for hydrocarbon development. The seven blocks on offer are primarily located in Algeria's eastern and central basins, with six offered under production sharing agreements (PSA) and one under a participation agreement.