US-based Halliburton Company and Japan’s JGC Corporation have won a joint venture $745 million contract to develop a natural gas piple in Algeria for BP/Sonatrach. The project’s target date of completion is set for 2005.
The Amenas joint venture will construct gas-processing facilities, pipelines, roads and administrative buildings. Natural gas and liquefied petroleum gases will be transported via a 70-mile pipeline from four gas-production fields to Sonatrach’s grid at Ohanet.
Established in 1963, Sonatrach was the first oil company in the Mediterranean. The company is active in both upstream and downstream oil and gas industries. It is responsible for exploration and production, transport, refining, processing, marketing and distribution.
Algeria is highly dependent on the oil industry. Despite years of effort to diversify its export and revenue bases, oil and gas traditionally represent 95 percent of total exports, 60 percent of state revenue and 25 to 35 percent of the Gross Domestic Product (GDP). — (menareport.com)
© 2002 Mena Report (www.menareport.com )