Algerian Radio
The Sonatrach Group signed two agreements yesterday, Monday, in Algiers, concerning the development of the Hassi Bir Rekaiz field in the wilayas of Ouargla and El Oued, as well as the export of petroleum products to Egypt.
The first agreement relates to an Engineering, Procurement, and Construction (EPC) contract between Sonatrach and the Thai company PTTEP (PTT Exploration and Production), which jointly manage the Hassi Bir Rekaiz field located in the Berkine Basin (wilayas of Ouargla and El Oued). This contract was signed with a consortium consisting of the Egyptian company Petrojet and the Italian company Arkad to develop this field.
The value of this contract is estimated at more than $1 billion, according to the data presented during the signing ceremony.
The second agreement involves a Memorandum of Understanding (MoU) between Sonatrach and the Egyptian General Petroleum Corporation (EGPC), serving as a preliminary step toward concluding contracts for the sale of crude oil and petroleum products by Sonatrach to the Egyptian side.
The signing ceremony took place under the supervision of the Minister of State, Minister of Energy and Mines, Mohamed Arkab, and the Egyptian Minister of Petroleum and Mineral Resources, Karim Ibrahim Ali Badawi. The event was attended by the CEO of Sonatrach, Noureddine Daoudi, the Chairman of Petrojet, Walid Lotfy, and the CEO of the Egyptian General Petroleum Corporation (EGPC), Salah El-Din Abdel Kerim.
