Petrojet wins $1.08bn contract for Algerian oilfield development
Egyptian state-owned integrated contractor Petrojet has secured a $1.08bn (E£51.38bn) contract for the phase two development of the Hassi Bir Rkaiz oilfield in Algeria.
The company emerged as the preliminary winner after a competitive bidding process involving major international competitors.
This project is part of a consortium with Italy’s Arkad, working for the Hassi Bir Rkaiz joint venture (JV) between Algeria’s state-owned Sonatrach and Thailand’s PTT Exploration and Production.
Egypt’s Petroleum and Mineral Resources Minister Karim Badawi stressed the strategic importance of Petrojet’s expanding global presence.
The minister highlighted that expanding Petrojet’s technical capabilities and experience in global markets aligns with the ministry’s sixth strategic pillar.
This pillar focuses on enhancing regional cooperation and leveraging the expertise of Egyptian petroleum companies in executing large-scale international projects, particularly in Arab and African regions, said Badawi.
The project involves the construction of a central processing facility with a handling capacity of 31,500 barrels per day (bpd).
It also includes 217km of associated pipelines and infrastructure.
Petrojet said the oilfield development represents a significant milestone and strengthens its presence in the Algerian market.
In addition, the project aligns with the company’s ongoing collaborations with Algeria’s Sonatrach to create joint manufacturing workshops.
Petrojet’s involvement in the Hassi Bir Rkaiz development is seen as a strategic move, reflecting its growing engagement in foreign markets.
The collaboration with Sonatrach also seeks to maximise the usage of Petrojet’s resources, contributing to sustainable economic benefits.
Earlier this year, Egypt was reported to be in negotiations with energy companies and trading houses to purchase 40–60 cargoes of liquefied natural gas as the country grapples with a deepening energy crisis ahead of peak summer demand.
“Petrojet wins $1.08bn contract for Algerian oilfield development ” was originally created and published by Offshore Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
