Petrofac secures two service agreements in Algeria

February 07, 2015 | Algeria, Contracts

Algiers, Algeria | – A global provider of oilfield services, Petrofac has entered into two contract agreements with Algerian state-owned Sonatrach, a press release said.

The first is a five-year contract where Petrofac will be providing a range of multi-discipline engineering design and procurement services in support of Sonatrach’s upstream hydrocarbon development program within the procedures that govern the tendering process. It is anticipated that the contract will cover the early definition of new projects, detailed engineering and services in support of project execution. About 100 personnel will support the contract throughout its duration.

Under the terms of the second agreement, Petrofac has signed a memorandum of understanding with Sonatrach, committing both parties to establish an Algerian joint venture (JV) to undertake engineering and project execution of selected upstream and downstream developments. The JV is expected to be finalized by mid-2015 with first project activity in fourth-quarter 2015.