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FINANCIAL NEWS
Algeria awards USD1.4b deal for Japanese firm
12 Oct 2016
(MENAFN) Algeria’s state energy firm Sonatrach awarded Japanese firm JCC Corp. USD1.4bn deal to enhance production at its largest gas field Hassi Rmel.
The contract was the second deal awarded for JCC this year; the first one was given in March for USD339mn and included boosting output at Algeria’s oilfield Hassi Messaoud.
Moreover, the Engineering Procurement and Construction contract involves the applications of equipment to boost the Hassi Rmel gas field.
The country”s gas output is estimated at 132.2bn cubic meters, which is predicted to reach 141.3 bcm by 2017, 143.9 bcm by 2018.
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