Signed 13 October 2025: Sonatrach and Midad Energy North Africa (Saudi Arabia) agreed a 30-year PSC (plus 10-year option) covering the Illizi South perimeter (100km south of In Amenas, near the Libyan border), with Midad funding 100% of investment, US$288m for a seven-year exploration phase, against expected output of 993 million boe (125 bcm gas, 204mmbbl liquids). It followed a March 2024 protocol and is the largest single upstream investment Algeria has signed in years, with Algeria relaxing the old Sonatrach 51%-minimum exploration rule and targeting US$60bn of energy investment over 2025–29 (80% upstream).
Value: US$5.4bn (verified against public announcements).
Advisers: No legal adviser is identified in the public record reviewed by The Meridian.
Recorded by The Meridian research desk from public announcements, regulatory filings and financial press coverage. Dates and values are as publicly reported.
