Petroleum Africa
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Tuesday, August 30, 2011
Vietnamese firm PetroVietnam Exploration Production Corp. (PVEP) and its partners, PTT Exploration and Production (PTTEP) of Thailand and Japan Gasoline Corp. signed a $451.3 million contract with Algerian state-run firm Sonatrach.
PVEP and its partners have been commissioned to build an oil treatment center capable of treating 20,000 bpd, a gas transportation plant capable of carrying 1 Mmcm/d, two oil pipelines, an electricity generating plant, and a water separation unit.
The facilities will be based at Bir Seba in southern Algeria and are expected to take 31 months to construct.
Oil output is expected to reach 20,000 bpd by 2014 and 36,000-40,000 bpd in 2016.
Under the deal Sonatrach will receive 51% of the income of the oil produced.
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