BP signs $2.5 billion Algerian gas deal
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The Algerian oil company Sonatrach and British Petroleum this weekend signed three contracts worth $2.5 billion (2.8 billion euros) for the development of gas reserves in the Algerian desert, officials said on Sunday, July 12.
Other companies involved include Kellog-Brown and Root, JGC, Bechtel and Algerian drilling company ENAFOR. When complete, the project is expected to yield nine billion cubic meters (315 billion cubic feet) of natural gas per year.
One contract is for a gas processing plant, pumping networks and infrastructures. A second covers a 460-kilometer gas pipeline linking the largest Algerian gas field at Hassi R'mel to In Salah in the heart of the desert.
The third contract provides for the drilling of 71 production wells, the officials said.
"The new quantities of Algerian gas available when this major project is implemented will confirm the role Algeria intends to continue playing on the international gas market and the energy market of the European and Mediterranean region," Algerian Energy Minister Chakib Khelil said. — (AFP)
©Agence France Presse
© 2001 Mena Report (www.menareport.com)
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