Egypt’s Petrojet has secured a USD 1-billion preliminary contract to develop phase two of the Hassi Bir Rekaiz oilfield project in Algeria, Reuters reported on Monday.
The report cited an announcement by Egypt’s Ministry of Petroleum and marks an expansion of the company’s activities into North Africa’s upstream sector.
Hassi Bir Rekaiz is an onshore oilfield located in Algeria’s Berkine Basin, covering an area of 1,916 square kilometres. It is operated by a joint venture between Thailand’s PTTEP (49%) and Algeria’s Sonatrach (51%).
First oil was achieved in June 2022 from phase one, targeting 13,000 bopd. Phase two is expected to significantly increase production capacity, with targets of 31,500 bopd in sub-phase 2a and up to 63,000 bopd in sub-phase 2b.
The field development includes extensive infrastructure such as a central processing facility, gathering systems, pipelines, accommodation and a new airstrip. Hassi Bir Rekaiz is one of Algeria’s largest greenfield oil projects in recent years and is central to the country’s efforts to boost domestic oil production. The project also supports PTTEP’s upstream growth strategy in North Africa.
Petrojet, a subsidiary of the Egyptian Ministry of Petroleum and Mineral Resources, is a regional EPC contractor operating across the Middle East and North Africa. It provides construction and engineering services for oil, gas and infrastructure projects, including pipelines, refineries and petrochemicals facilities.
In Algeria, Petrojet has increased its engagement in upstream and midstream projects, aligning with the country’s strategy to boost oil and gas production capacity and infrastructure development.
Source: theenergyyear.com