ZPEC signs exploration and development contract for Algeria gas block
ZPEC successfully won the exploration and development rights for the Zerafa II natural gas block in Algeria and signed a contract with the Algerian National Oil Company on July 21, 2025. This marks a key advancement for the company in the African market, promoting its global resource layout, and is expected to have a positive impact on future operating performance, consolidating its position in the oil and gas exploration and development field
According to the Zhitong Finance APP, Zhongman Petroleum (603619.SH) announced that on June 17, 2025, the company participated in the oil and gas block bidding project BR2024 organized by the Algerian Ministry of Energy and Mining (hereinafter referred to as "ALNAFT"). The company successfully won the bid for the exploration and development rights of the Zerafa II natural gas block in Algeria (hereinafter referred to as the "Zerafa II Block"). On July 21, 2025, the company signed an exploration and development contract for the Zerafa II Block with the Algerian National Oil Company.
The cooperation between the company and SONATRACH on the exploration and development project of the Zerafa II natural gas block in Algeria is a key step for the company's oil and gas exploration and development business to enter the African market. This represents a significant breakthrough in the company's global resource layout under the guidance of the "oil and gas dual development" strategy, forming a new pattern of coordinated development of oil and gas with the company's existing block resources. It will strongly promote the company to accelerate the construction of a resource reserve system that is "based domestically and radiates overseas," providing strategic resource support for the company's long-term development. If the project is successfully implemented, it is expected to continuously have a positive impact on the company's future operating performance, further consolidating the company's position and core competitiveness in the field of oil and gas exploration and development
