On March 12, ZPEC obtained the Pre-qualification Certificate for Oil and Gas Exploration and Production issued by the National Oil and Gas Agency of the People's Democratic Republic of Algeria (hereinafter referred to as "ALNAFT"). This will help the company obtain opportunities to invest in and develop high-quality oil and gas fields in Algeria, injecting new impetus into the company's long-term and stable development.

Algeria is rich in oil and gas resources. By the end of 2023, Algeria's proven crude oil reserves were ~12.2 billion barrels with natural gas reserves of 4.5 trillion cubic meters, mainly concentrated in the Sahara Desert. In recent years, international energy giants such as BP, ENI, and Chevron have participated in the development of Algerian oil and gas fields through technical cooperation. The Algerian Oil and Gas Exploration and Production Pre-qualification Certificate obtained by ZPEC is valid for five years, which means that ZPEC can participate in all tenders organized by ALNAFT during the validity period.

In 2024, Algeria launched the 2024 bidding round (BR2024) of oil and gas license issuance through ALNAFT, focusing on opening up six onshore high-potential blocks. These are mainly distributed in the southern Sahara Desert, including the Ahnet, Gourara, and other basins, with some blocks involving shale gas resource development. Next, ZPEC will conduct a comprehensive assessment of the relevant oil and gas field blocks, in accordance with the bidding documents issued by ALNAFT, and choose the right time to enter the oil and gas exploration and production field in Algeria in combination with the country's investment environment and the company's actual situation. (Li Jukun, Oilfield Division)