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FINANCIAL NEWS
Algeria’s “Sonatrach” awards USD 880mn tubes deal
12 Mar 2016
(MENAFN) Algeria’s energy firm Sonatrach has awarded an USD 880mn deal to supply oil and gas drilling tubes to four foreign companies.
Moreover, the firms included are; Germany’s CCC Machinery, Dutch firm Van Leeuwen, Japan’s Marubeni-Itochu and Vallourec Tubes France.
Additionally, OPEC member Algeria stated its determination to increase oil and gas production to maintain exports and growing local demand.
On the other hand, it had struggled to attract foreign oil firms in recent energy rounds, and it urges all the dealers to participate en masse.
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