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|Technip awarded major contract in Algeria|
Technip has been awarded by Sonatrach, the Algerian national oil company, a contract for the refurbishment and revamping of the Algiers refinery. This lump sum turnkey contract, worth approximately 67.9 billion Algerian Dinars (USD 908 million*), will last 38 months and cover the execution of the complete scope of works, including the design, supply of equipment and bulk material, construction and start-up.
The revamp of the existing installations will enable refining capacity to be increased from 2.7 to 3.6 million tons per year. The new units will allow the refinery to produce gasoline at specifications similar to those in force in Europe.
This project will be carried out by Technip’s operating center in Paris, France. It confirms the Group’s leadership in the refining market and is part of Sonatrach’s vast program to renovate and refurbish the country’s oil refining installations.
* at exchange rate USD/DZD = 74.8
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