Selected by Sonatrach to build the petrochemicals site, Petrofac already has a presence in Algeria. In 2021, the British oil and gas group was convicted of corruption in connection with contracts in the Middle East.
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Oil is an essential resource powering industries and economies around the world. The industry is dominated by large multinational corporations, such as Exxon Mobil Corporation (NYSE:XOM), BP p.l.c.
Following provisional award in August 2022, Petrofac, leading a consortium with Genie Civil et Batiment (GCB), has signed an engineering, procurement and construction contract with Sonatrach for the Tinrhert EPC2 Development Project. The contract, signed at an official ceremony in Algiers, is valued at approx. US$300 million, with Petrofac’s share around US$200 million.