New horizons for Saipem: in Algeria
Saipem signs $1.8bn Algeria deal
Algerian energy group Sonatrach and Canadian partner First Calgary Petroleum signed an energy infrastructure deal worth $1.85 billion with Italy's Saipem.
Under the deal, Saipem will build facilities to produce and process humid gas and oil from Algeria's Ledjemet field, Sonatrach said in a statement on its web site.
The agreement also involves the construction of pipelines to transport natural gas, liquefied petroleum gas and condensate from Ledjmet to Gassi-Touil, the statement added.
The Saipem deal was first announced in November last year and the installations are due for completion by 2012.
They will be able to treat 9 million cubic metres of gas, 10,000 barrels of condensate and 14,000 barrels of LPG per day, Reuters reported Sonatrach saying.