Egypt`s PETROJET secures $1bn contract to develop Algeria’s Hassi Bir Rekaiz oil field
Baku, October 21, AZERTAC
The Petroleum Projects and Technical Consultations Company (PETROJET) has secured a $1.08 billion contract to develop the second phase of the Hassi Bir Rekaiz oil field in Algeria, according to Egypt Oil and Gas Group. The project is operated by Groupement Hassi Bir Rekaiz (GHBR), a joint venture between Algeria’s Sonatrach and Thailand’s PTT Exploration and Production Plc (PTTEP).
The step aligns with the sixth pillar of the Ministry of Petroleum and Mineral Resources (MoPMR) strategy related to strengthening regional cooperation with countries and partners and leveraging the capabilities of Egypt’s oil sector companies in executing large-scale projects abroad, particularly in Arab and African countries, said Karim Badawi, Minister of Petroleum and Mineral Resources.
PETROJET is leading the project in cooperation with Italy’s Arkad S.p.A. The project entails the construction of a central processing facility with a capacity of 31,500 barrels per day (bbl/d), along with associated infrastructure and 217 km of pipelines. Moreover, PETROJET is working on joint fabrication workshops with Algeria’s Sonatrach, aimed at maximizing added value, utilizing surplus capacities, and generating substantial foreign currency revenues through international operations, according to the Ministry’s statement.
Badawi emphasized the importance of PETROJET continuing its overseas expansion, highlighting its success in executing major projects across several countries.
In June, PETROJET completed the manufacturing of high-quality subsea systems that will be exported to Angola as part of a development project in the African country. In August 2024, the company manufactured and delivered the final deep water infrastructure components including Aptara Modular Compact Manifold for the Baleine second phase development project at Côte d’Ivoire to Baker Hughes and Eni.
Other news in this section
