Algeria's recent bid round, which closed in December, was widely regarded as a disappointment: Only four of 16 gas-prone exploration areas were awarded, and only nine of nearly 80 prequalified companies bothered to bid. Italy's Eni, the UK's BG, German E.On Ruhrgas and Russian Gazprom took one block each and plan to invest a combined $272 million (EC Dec.l9,p8). The most coveted asset of the lot - the Ahnet gas fields, containing an estimated 5 trillion cubic feet of reserves - was abruptly withdrawn from the tender just days before the deadline. And ambitious plans to rewrite the rules of investment were a flop.
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