Sonatrach in counterattack on Saipam in Paris

Algeria’s energy group Sonatrach change its strategy in international arbitration case against Italy’s Saipem. It asked for considerable compensation of more than 322 million euros.

This comes in response to Italians’ request for more than 1.7 billion euros compensation.

According to a financial report, Sonatrach asked Saipem to pay it 35 million euro and $9.11 million. This is considered as compensation for the absence of production in a gas complex due to achievement delay.

Sonatrach also asked for the payment of 360,000 euros and 38 million centimes as compensation for management-related errors.

The national company asked for another sum estimated at 34 million euros as compensation for financial loss due to bribes.

The report also says Sonatrach asked Saipem to pay 17 million euros as compensation for a project on a gas pipeline between Hassi Rmel and Arzew.

The Chamber of Paris is expected to decide in the issue between December 11th and 15th this year.