ZPEC: Awarded Exploration and Development Rights for Natural Gas Blocks in Algeria

ZPEC (603619.SH) announced that the company successfully won the bid for the BR2024 Oil and Gas Block Tender Project in Algeria on June 17, 2025, and obtained the exploration and development rights for the Zerafa II natural gas block. This area is located in the southern part of the Gourara-Timimoun Basin, Algeria's major gas-bearing basin, with a block area of 38,697.73 square kilometers. The company will promptly initiate contract negotiations with ALNAFT and, in the future, will establish an integrated industry chain covering natural gas exploration, development, and comprehensive operations. The company has not yet signed a formal contract with ALNAFT, and there are uncertainties regarding the contract terms and signing, as well as the specific investment amount, which cannot yet be determined.