Algeria Nears Deals With Exxon and Chevron in Shale Gas Push

Algeria is close to finalizing a deal with Exxon Mobil Corp. and Chevron Corp. to tap the North African nation’s vast gas reserves, including shale, for the first time, a senior official said.

“The technical aspects have more or less been agreed upon, but the commercial alignment is still under negotiation and will soon be finalized,” Samir Bekhti, the chairman of energy regulator Alnaft, said in an interview. Attracting the two US giants “sends a strong signal,” he said.