 Samsung Engineering Company has won an $800 million contract to develop a gas field in Algeria, according to Yonhap news agency.
The construction will take place around the Timimoun field, around 800 kilometres south of Algiers. Samsung Engineering will build a central processing facility at the site which will be completed by April 2017. Samsung will be responsible for the entire project, from the planning stage, through to procurement and construction.
Once built the facility will be able to process 5 million standard cubic metres of gas per day.
Groupement Timimoun (GTIM) placed the order with the formal agreement being signed in the Algerian capital.
GTIM is a joint venture among Algeria’s state-run oil company Sonatrach, France’s oil giant Total and CEPSA S.A.U. of Spain.
Sonatrach owns a 51 percent stake in the venture, followed by 37.75 percent for Total and 11.25 percent for the Spanish oil company.
Samsung Engineering said that the latest contract will permit greater cooperation with Sonatrach down the line and permit the company to make greater inroads in the African construction and engineering market.
In 2009, the company secured the $2.6 billion Skikda oil refinery work from Algeria’s state-run company.
