Petrofac Wins Two Deals with Algeria's Sonatrach
Petrofac has won two strategic services agreements with Algerian state-owned oil firm Sonatrach, the oilfield services company reported Friday.
The first deal is for a five-year contract in which Petrofac will provide a range of multi-discipline engineering design and procurement services in support of Sonatrach's upstream hydrocarbon development program. Petrofac said it anticipates the contract will cover the early definition of new projects, detailed engineering and services in support of project execution. Approximately 100 personnel will support the contract throughout its duration.
The second agreement sees Petrofac and Sonatrach commit to establish an Algerian joint venture to undertake engineering and project execution of selected upstream and downstream developments. The JV is expected to be finalized by mid-2015, with first project activity during the fourth quarter of this year.
Craig Muir, managing director of Petrofac's Engineering & Consulting Services business commented in a company statement:
"Our track record in Algeria extends more than 15 years and over that time we have had the opportunity to undertake many different types of work. From EPC [engineering, procurement and construction] projects at one end of the spectrum, through operations and maintenance and engineering services, underpinned by our strong local technical training capability.
"These two most recent agreements are excellent illustrations of our strategy in action: utilizing our international capability to maximize in-country value in key areas of operations. This is an ideal opportunity to support our longer-term sustainability in-Algeria and we look forward to working with Sonatrach to deliver the wide variety of services that these agreements have the potential to offer."
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