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. The project is operated by Groupement Hassi Bir Rekaiz, a joint venture between Algeria’s Sonatrach and Thailand’s PTT Exploration and Production.
Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, stated that the development aligns with the ministry’s 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. PETROJET is leading the project in cooperation with Italy’s Arkad, and the work entails the construction of a central processing facility with a capacity of 31,500 barrels per day, along with associated infrastructure and 217 kilometers of pipelines.
PETROJET is also 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. Badawi emphasized the importance of PETROJET continuing its overseas expansion, highlighting its success in executing major projects across several countries. Earlier this year, PETROJET completed the manufacturing of high-quality subsea systems exported to Angola and delivered deep water infrastructure components for the Baleine second phase development project in Côte d’Ivoire.
Source: egyptoil-gas.com