(Alliance News) – Maire Tecnimont Spa announced Thursday that a consortium including its subsidiary Tecnimont – Integrated E&C Solutions and Baker Hughes has been awarded an engineering, procurement and construction contract by Sonatrach for the construction of three compression stations, as well as for the improvement of the gas collection system, in the Hassi R’mel gas field, 550 kilometers south of Algiers.
The total contract value is approximately USD 2.3 billion, including USD 1.7 billion for Tecnimont.
According to the company, this field is the largest in Algeria and one of the largest in the world.
The project includes the construction of three gas compressor stations, including turbochargers capable of compressing approximately 188 million cubic meters of natural gas per day. In addition, the project includes the modernization of the gathering system, which includes more than 300 km of pipelines connecting the wells. The project is expected to be completed within 39 months from the effective date of the contract.
Alessandro Bernini, CEO of the Maire group, said: “After the award of the alkylbenzene plant in the Skikda industrial zone last March, Sonatrach is once again relying on the execution capabilities of our group The development of this important new project strengthens our commercial relationship with Sonatrach and especially the bilateral relations between Italy and Algeria. This award in fact represents strong recognition for the entire Italian value chain. is associated with the Baker Hughes consortium and, more generally, has a significant economic impact on our country.”
Maire is trading in the green by 3.3% at 7.85 euros per share.
By Chiara Bruschi, journalist at Alliance News
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