The Reggane Basin covers an under-explored portion of south-western Algeria, and is characterised by a remote, desert environment. A Repsol-operated consortium is developing the Reggane Nord Fields - some of the first commercial gas fields in the basin. The project came onstream mid-2017, following the completion of the 760-kilometre GR5 pipeline linking the basin to Hassi R'Mel. However, explorers in the Reggane Basin will struggle to create value due to the challenging fiscal terms and operating environment. The new Hydrocarbon Law of 2013 included fiscal reforms and tax breaks aimed at invigorating exploration, but it also added fiscal complexity, with taxes and royalties varying according to location, rate of production, plateau production rate, capital spend and profitability. Therefore, project economics will be variable in the basin and require a case-by-case analysis. Full details are available to download in excel and pdf format.