30th Oct 2013 08:20
LONDON (Alliance News) - Petrofac Ltd Wednesday said it will lead a partnership with Italy's Bonatti in a contract worth more than USD650 million to extend the life of Sonatrach's Alrar gas field in south east Algeria.
It said the deal involves engineering, procurement, construction, and commissioning new separation and booster compression facilities at the field, which has been operation since 1987.
Petrofac already has operations in Algeria, and is developing a central processing for Sontrach, BP and Statoil at a project they own in Algeria's southern fields.
Petrofac shares were up 2.4% at 1,503 pence early Wednesday, one off the leading gainers on the FTSE 100.
By Steve McGrath; [email protected]; @SteveMcGrath1
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