Sinopec Wins Algerian Field Development Contract

The Government of Algeria has awarded a contract to Sinopec to develop the Zaraitine field. The contract calls for Sinopec to increase recovery rates from the field by 10% to 50%. The deal is valued at $525 million and Sinopec's contribution will be 75%. Sonatrach will contribute the other 25%. Zarzaitine Field is located in the southern Hassi Messaoud's main crude oil producing province where Algeria's biggest oilfield known as Hassi Messouad lies.

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours