The launch ceremony, held on April 19 at the International Conference Centre in Algiers, was organised by Algeria’s National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT), marking the opening of bids for exploration rights across seven oil and gas blocks. The event drew participation from major global energy companies, including Petrovietnam Exploration Production Corporation (PVEP), a subsidiary of the Vietnam National Industry – Energy Group (Petrovietnam).

ALNAFT described the Bid Round as a key step in Algeria’s national strategy to enhance resource efficiency, strengthen transparency, and attract foreign investment into its energy sector.

The “Bid Round” mechanism allows both domestic and international oil and gas firms to submit proposals and compete for exploration rights, in compliance with Algeria’s legal framework and international standards on transparency and competitiveness.

Algerian authorities expect the initiative to broaden the participation of global energy corporations, thereby improving extraction capacity and increasing value across the oil and gas supply chain. Algeria now ranks among the world’s leading energy producers and exporters, placing fifth in natural gas production and second in exports, as well as 13th in oil production and ninth in exports.

At the Vietnam–Algeria Economic Forum held in November 2025, PVEP and the national state-owned oil company of Algeria Sonatrach signed a memorandum of understanding to expand cooperation in oil, gas and energy. The agreement outlines collaboration in exploration and production, crude oil and LNG trading, downstream industry development, technical services, human resources training, research and innovation, as well as carbon capture and emissions reduction initiatives.

Currently, PVEP is involved in oil exploitation at Blocks 433a and 416b of the Bir Seba field in the Hassi Messaoud area, Ouargla province, located more than 600 km south of Algiers. The project stands as one of Petrovietnam’s most successful overseas ventures, demonstrating the operational capacity and technical expertise of Vietnamese engineers on the global stage./.