A new Algerian oil and gas bidding round will start in a matter of weeks, according to Sid Ali Beta, head of hydrocarbons agency L’Agence Nationale pour la Valorisation des Ressources en Hydrocarbures (Alnaft), which oversaw bidding in the country’s latest round.

Only four of the 31 fields on offer were awarded in the previous auction, it was announced last month.

“We are preparing a new bidding round. It will be launched within weeks,” Ali Beta told reporters at the contract signing ceremony on 29 October.

International oil companies lacked enthusiasm for Algerian oil assets in recent years due to high levels of corruption in the country’s energy sector, security concerns, and onerous contract terms.