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If they wanted to, stressing the fact that they had to respect their commitments as regard the project they were to carry out in partnership with other companies. The Minister’s statement comes after some foreign companies announced their intention to withdraw from certain projects, especially after hydrocarbons law was put into effect. They consider hydrocarbons law amendment as an overload in relation to taxes. Anadarko, one of major oil investment companies, expressed its dissatisfaction as to the amendments since it has to pay now up to 50%. Other foreign oil companies have expressed same concerns. On other hand, Chakib Khalil disclosed that oil income this year would reach 52 billion dollars, according approximate figures for the end of 2006. That is a 30% raise compared to last year. Foreign companies’ share will reach 4 billion dollars, the Minister says. As concern the passenger bus transporting Brown Root and Condor’s employees, attacked by terrorists, Energy Minister says it will no effect on foreign investments, mainly in energy and mines field. Oil companies are efficiently guarded, Khalil affirms. Even in countries undergoing war, oil investment hasn’t halted, he adds. S. Yousfi | ||||||||||||||||||
Foreign companies investing in oil field in Algeria