Petroleum Africa
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Monday, February 9, 2015
Petrofac entered into two strategic contract agreements with Algerian state-owned oil and gas firm Sonatrach. The first contract is for five years under which the company will provide a range of multi-discipline engineering design and procurement services in support of Sonatrach’s upstream development program within the procedures that govern the tendering process. It is anticipated that the contract will cover the early definition of new projects, detailed engineering and services in support of project execution.
The second agreement revolves around a MoU signed between Petrofac and Sonatrach committing both parties to establish an Algerian JV to undertake engineering and project execution of selected upstream and downstream developments. The JV is expected to be finalized by mid-2015 with first project activity in Q4 2015.
According to Petrofac the building local capability and capacity through knowledge transfer, systems and processes, and customized training is at the heart of both agreements; ensuring the development and mentoring of future generations so they have the skills to take Algeria’s oil and gas industry to the next level. The majority of engineering services will be delivered locally.
Craig Muir, MD for Petrofac’s Engineering & Consulting Services business commented: “Our track record in Algeria extends more than 15 years and over that time we have had the opportunity to undertake many different types of work. From EPC projects at one end of the spectrum, through operations and maintenance and engineering services, underpinned by our strong local technical training capability. These two most recent agreements are excellent illustrations of our strategy in action: utilizing our international capability to maximize in-country value in key areas of operations. This is an ideal opportunity to support our longer-term sustainability in-Algeria and we look forward to working with Sonatrach to deliver the wide variety of services that these agreements have the potential to offer.”
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