In Algeria, the public oil company (Sonatrach) signed an engineering, supply and construction (EPC) contract with Tecnicas Reunidas and Samsung Engineering for a new refinery of 110,000 barrels per day, in Haoud El Hamra near Hassi Messaoud.
The contract is estimated at $ 3.67 billion and works are expected to be completed within 52 months, or around May 2024.
“The signing of this contract confirms our desire to pursue the development of our resources in hydrocarbons and refined products (…) This will make it possible to meet the needs of the national market while contributing to the economic and social development of the country”, affirmed Kamel Eddine Chikhi, CEO of Sonatrach
The public company said the construction of the new plant is part of its program to consolidate the production of fuels and lubricants for domestic needs in the medium and long term.
Source: Agence Ecofin