($1 = 118.5060 Algerian dinars) 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 deal is worth about $US1.3bn, and will see the company supply up to 10 percent of Algeria’s total natural gas. Sonatrach said the contract was around $100m lower than previously announced, as DZD10bn worth of work had been allocated to Algeria's GCB.
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 deal is worth about $US1.3bn, and will see the company supply up to 10 percent of Algeria’s total natural gas. Sonatrach said the contract was around $100m lower than previously announced, as DZD10bn worth of work had been allocated to Algeria's GCB.