PVEP signs engineering contract with Algeria
VGP - The PetroVietnam Exploration and Production Corporation (PVEP) and two partners have signed a US $451.3 million engineering contract with the Algerian state-owned oil and gas company Sonatrach.
The two partners engaged in the contract, which was signed on August 27, are the Petroleum Authority of Thailand and the Japanese Gas Corporation.
Within 31 months, PVEP and its partners will build an oil processing center with a capacity of 20,000 barrels per day, a compressing plant to transfer fuel from the Bir Seba oil field to Hassi Messaoud city with a daily capacity of 1 million cubic meters, two 130km-oil pipelines, a water separating plant and a power plant at the oil field in the south of Algeria.
The total output of oil exploited from the Bir Seba oil field is expected to reach 20,000 barrels a day by 2014 and between 36,000 and 40,000 barrels a day by 2016.
PVEP, an affiliate of the Vietnam National Oil and Gas Group (PetroVietnam) holds a 40% stake in the Bir Seba joint-venture established in August, 2009./.
