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Petrofac signs $1.5 billion EPC contract in Algeria

by Staff Writer
petrofac

Petrofac today confirmed it has entered into a definitive agreement with STEP Polymers SPA, a Sonatrach subsidiary, for the design and build of its petrochemical complex in the Arzew Industrial Zone in Algeria. The contract award was originally announced in May 2023.

Petrofac will deliver the $1.5 billion project with its joint venture partner China Huanqiu Contracting & Engineering Corp (HQC), with Petrofac’s share valued at over U$1 billion. The contract was signed at an official ceremony in Algiers by representatives of Petrofac, HQC and STEP.

Left to right: Roberto Bertocco, Chief Commercial Officer, Petrofac; Katherine Smitton, Deputy Ambassador, British Embassy Algiers; Tareq Kawash, Group Chief Executive, Petrofac; Mohamed Arkab, Minister of Energy and Mines; Toufik Hakkar, President and CEO, Sonatrach; Batouche Boutouba, Vice President RPC, Sonatrach; Fan Cheng Zheng, General Manager, HQC Algeria

Tareq Kawash, Petrofac’s Group Chief Executive, said, “I am delighted to be in Algiers alongside our partner and client to mark the official award of this pioneering project. Broadening Petrofac’s portfolio within the petrochemical sector, this contract builds on our 25-year track record of safely delivering strategically significant energy infrastructure in Algeria, while developing local workforces.”