November 27, 2018 Algerian state energy firm Sonatrach awarded a contract worth 60 billion dinars ($506 million) on Tuesday to Britain's Petrofac to boost gas output at the Tinhert field by 4.7 million cubic metre per day, Sonatrach's CEO said. The value was about $100 million less than originally announced. Sonatrach CEO Abdelmoumen Ould Kaddour said the difference in value was because part of the work, worth 10 billion dinars, had been awarded to Algeria's GCB. The project in the Illizi region was expected to come online in 36 months, he told reporters. ($1 = 118.5060 Algerian dinars) (Reporting by Lamine Chikhi Editing by Ulf Laessing and Edmund Blair)
Petrofac has been awarded a DZD60bn ($506m) contract by Algerian state energy firm Sonatrach to increase gas production at the Tinhert field by 4.7 million cubic metres per day. The project is set to go live in 36 months. Sonatrach said the contract was around $100m lower than previously announced, as DZD10bn worth of work had been allocated to Algeria's GCB.