OPE Wins Pipeline Work in Algeria

OPE Inc.'s affiliated companies, OPE International LP and OPE Offshore International Ltd., have been awarded subcontracts by FMC SOFEC Floating Systems, a unit of FMC Technologies, Inc., for the development of five offshore loading stations for transportation of crude oil and condensate hydrocarbons from onshore facilities. The loading stations are located off the coast of the Algerian oil ports of Arzew, Bejaia, and Skikda. The main contract (valued at $240 million) is between FMC Technologies and Sonatrach, the Algerian national oil company. OPE will be responsible for the pipeline design, supply and installation of both onshore and offshore facilities. OPE will also be responsible for the installation of the loading buoys and tanker mooring systems at each of the offshore sites. The estimated value of the systems to be supplied by OPE is approximately $120 million.

"OPE is excited about this project as it provides us with an opportunity to fully showcase our capabilities. We look forward to working with FMC SOFEC Floating Systems and Sonatrach on this challenging project," said Gary Quenan, President – OPE.