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FINANCIAL NEWS
Sonatrach awards $908m contract to Technip
02 Dec 2010
(MENAFN) Technip SA, Europe�s second-largest oilfield-services provider, said that it has won a contract worth $908 million to revamp and expand an Algerian refinery, Reuters reported.
The refurbishment of existing installations owned by Sonatrach, Algeria�s national oil company, will raise refining capacity to 3.6 million tons annually from 2.7 million tons, according to a statement from Paris-based Technip.
The new units will allow the refinery to produce gasoline at similar specifications as those needed for Europe, Technip said.
The company said it had won an order from Total SA to raise capacity at the Normandy refinery in Gonfreville, France. The project, which will allow the facility to make more diesel and kerosene, will cost more than $132 million, one-fifth of which will go to Technip, it said.
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