In the presence of Chakib Khelil, Algeria's Minister of Energy and Mines, Shoaibi Group, the leading Oil & Gas technology & service provider for the Middle East and North Africa, signed 4 major contracts with Algerian state owned energy group, Sonatrach, Europe's second largest gas supplier. Sonatrach is partnering with the Shoaibi represented firms to benefit from their expertise in the application of new technologies in oil and mining exploration.
The first contract was signed with ARKEX, for geophysical surveying using their proven BlueQube technology. BlueQube is a state of the art technology that provides geophysicists, geologists and exploration managers with an accurate picture of the sub surface geology. This included a three-year agreement with the first survey in the Ain Regada, Souk Ahras province. The Second contract was signed with FLOTECH for installation of intelligent completions, while the third contract was signed by ARTIFICIAL LIFT COMPANY (ALC) to cover the installation of rigless Electrical Submersible Pumps (ESP)s on several wells. The fourth contract was signed with INGRAIN for providing technology that computes the physical properties and fluid flow characteristics of oil and gas reservoir rocks.
Faisal Al Shoaibi, Director of Shoaibi Group, said, "We are honored to have the opportunity to work with Sonatrach and offer our support in bringing new technologies. We will work together in achieving our objectives for the Algerian oil and gas industry and look forward to contributing to its growth."
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