Petrofac has won two oilfield service contracts with Algerian state-owned oil company Sonatrach, the company announced Friday.
The first deal is for a five-year contract in which Petrofac will provide multi-discipline engineering, design and procurement services for Sonatrach’s upstream hydrocarbon development program.
The second agreement is for Petrofac and Sonatrach to establish an Algerian joint venture to undertake engineering and project execution of selected upstream and downstream developments.
The deal is expected to be finalised by mid-2015, with the first project activity taking place during the fourth quarter of this year.
Craig Muir, managing director of Petrofac’s engineering and consulting services business, said: “Our track record in Algeria extends more than 15 years and over that time we have had the opportunity to undertake many different types of work.
“These two most recent agreements are excellent illustrations of our strategy in action: utilizing our international capability to maximize in-country value in key areas of operations.
“This is an ideal opportunity to support our longer-term sustainability in-Algeria and we look forward to working with Sonatrach to deliver the wide variety of services that these agreements have the potential to offer.”Â
