British Energy Company Petrofac Won a $ 600 million contract for the engineering, construction and supply of equipment for the Tinrhert Gas Project in Ain Aminas, Illizi (Southern Algeria), which is a clear indication by foreign companies of their willingness to work in Algeria in anticipation of the new hydrocarbons law.
Petrofac said in a statement that was published on its official Website that it received a letter from Sonatrach in the form of temporary grants for the engineering, construction and equipment deal for the Tinrhert gas project, referring to the signing of the deal which is expected in September.
The deal was valued at $600 million, or more than DZD 678 billion in national currency.
The project is located in the Ohant basin and includes the establishment of a new natural gas pressure and separation center, and under the terms of the 36-month contract, the British company will establish a network of pipes at a distance of 400 km and connect 36 gas wells, in addition to the operation of facilities and conduct tests on them.
General Manager in charge of engineering and construction in Petrofac, Satya Narayan, said: “Winning this deal focuses on the achievements of Petrofac in Algeria, where we have been working for more than two decades to support the country’s oil and gas production.”
“We will continue to support our presence in Algeria through a number of contracts that are awarded by the company and major engineering services with Sonatrach, including the Adrar and Raggan projects that started production this year,” he added.
Previously, the General Manager of Sonatrach, Abdelmoumen Ould Kaddour, launched, last March, a project to supply the regions of the south-east by gas from the project of Tinhrat in the basin of Ohant, where the task of linking the gas wells of the plant to a consortium of Algerian companies, worth about $250 million.
Ould Kaddour had previously asserted that “the partnership with foreigners is inevitable and therefore we will review the hydrocarbons law and make it more attractive to foreign investors according to the “Winner-Winner” rule.