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Algeria: Sonatrach grants Japanese firm deal to develop Hassi Messaoud oilfield

Friday, 04 March 2016 10:42

In Algeria, Sonatrach has granted GJC a $339 million contract to help boost output at its oilfield in Hassi Messaoud. The scope of work under the contract includes the refurbishing and realization of a new system of production in Hassi Messaoud.

Algeria has been affected by the global decline in oil prices and has fought to draw energy investments to help develop new fields and boost current output.

The government has said that it is considering developing current fields; Hassi Rmel, Hassi Messaoud, Berkine and El Merk, so as to boost oil and gas production.

In 2015, the country declared that it will suspend the inauguration of a new bidding round for oil and gas exploration rights.

According to Reuters, about 30 international energy companies are active in Algeria, but its previous energy bidding round only placed four contracts.

Anita Fatunji

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