TotalEnergies (TTE) said Tuesday that it received the Ahara exploration license from the Algerian government's National Agency for the Valorization of Hydrocarbon Resources after the 2024 bid round.
TotalEnergies and QatarEnergy jointly bid for the license that covers an area of about 14,900 square kilometers, the company said.
TotalEnergies said it will operate the new license with a 24.5% stake, matching QatarEnergy's interest, while Algerian state-owned company Sonatrach holds a 51% stake.
Shares of TotalEnergies were up 2% in recent trading.
Price: 63.82, Change: +1.25, Percent Change: +2.00
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