Sonatrach signs a 1 billion dollar oilfield contract and an export deal with Egypt
Sonatrach signed a contract worth more than one billion US dollars to develop the Hassi Bir Rekaiz oilfield. It also signed a memorandum with Egypt's national oil company on selling oil and oil products to Egypt.
The signing took place in Algiers on Tuesday 5 May, with the Algerian Minister of Hydrocarbons, Mohamed Arkab, and Egypt's Minister of Petroleum, Karim Badawi. Sonatrach and its partner, the Thai company PTTEP, awarded the engineering and construction contract to a consortium of Egypt's Petrojet and Italy's Arkad.
The field is in the Berkine basin, between the wilayas of Ouargla and El Oued, and the contract requires a large share of local content. The memorandum with EGPC prepares future sales contracts.
Arkab also invited companies to take part in the Algeria Bid Round 2026 for new exploration blocks.
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