Last checked at 
By Hamid Ould Ahmed
ORAN,
OPEC member
In a bid to reverse the fall, the energy ministry hasstarted drafting amendments to the energy law, promising moreincentives for foreign investors.
"We will remove all obstacles, wage a battle againstbureaucracy and change tax procedures," Energy Minister MustaphaGuitouni told a gas and gas conference in the western city ofOran.
"The amendment is required by our energy security," he said."The current system must change. We will intensify consultationswith our partners."
The law has been in the works for years and is seen as keyto attracting more investment but no draft or details have beenpresented yet.
In the latest bidding round in 2014,
"Evaluation studies on shale gas potential are going on.This will take 5 to 10 years," he said, without providingfurther details.
Arezki Hocini, the head of the National Agency for theValorization of Hydrocarbon Resources (
"We hope these discussions will lead to talks over possiblecontracts," he told reporters, without providing details.
