Sunday 16 June 2024

Tecnimont consortium lands $2.3bn Algeria EPC project work

MILAN, 19 days ago

Maire, a leading Italian technology and engineering group, has announced that a consortium comprising its key subsidiary Tecnimont (Integrated E&C Solutions) and leading oil services company Baker Hughes has secured a $2.3 billion contract from Algeria's state-owned oil company Sonatrach, to provide engineering, procurement and construction services for a new gas facility in the country. 
The scope of work involves the implementation of three gas boosting stations, including turbo-compressors that will compress about 188 million standard cu m per day of natural gas at the country's largest gas field Hassi R’mel, located 550 km south of Algiers.
Additionally, the project entails the upgrading of the existing gas gathering system, which includes more than 300 km of flowlines connecting the wells.
The boosting stations, along with the gathering system, will maintain the pressure of the gas as it travels through the pipelines, allowing it to continue flowing more efficiently and ensuring a reliable and uninterrupted supply of natural gas to Italy, and subsequently to Europe as a whole. 
Maire pointed out that of the total contract value, $1.7 billion relates to Tecnimont.
With this contract, Maire confirms its standing as a key engineering player in strategic energy projects, significantly contributing to the optimization of the gas supply from Algeria, thus diversifying Italy and Europe’s energy sources. 
According to Maire, the entire project work will be completed within 39 months from the contract’s effective date.
This initiative consolidates the relationships between the two sides of the Mediterranean, reinforcing EU-Africa cooperation.
On the big project win, CEO Alessandro Bernini said: "After the award of the linear alkyl benzene (LAB) plant in the industrial zone of Skikda last March, Sonatrach once again relies on our group’s execution capabilities. The development of this new crucial project strengthens our relationship with the Alfgerian oil major and, most importantly, the bilateral relations between Italy and Algeria."
"This award, in fact, represents a strong recognition of the entire Italian value chain, having Baker Hughes as partner and, more broadly, an important economic impact on our country," he added.-TradeArabia News Service


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