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Samsung Engineering wins US $800 mln deal

11 Mar 14  | Business Support |  Recruitment News |  Technology

Samsung Engineering Co., one of South Korea's leading builders, said Monday that it won a US$800 million contract to develop a gas field in Algeria.

The contract calls for the company to build a central processing facility (CPF) and related pipelines for the Timimoun field located some 800 kilometers south of Algiers in the west-central part of the North African country.

It said the turnkey project, to be completed by April 2017, calls for Samsung Engineering to draw up the plans, handle procurement, carry out construction and conduct a trial run.

The CPF will be built to handle 177 million standard cubic feet of gas per day.

Groupement Timimoun (GTIM) placed the order with the formal agreement being signed in the Algerian capital.

GTIM is a joint venture among Algeria's state-run oil company Sonatrach, France's oil giant Total and CEPSA S.A.U. of Spain. Sonatrach owns a 51 percent stake in the venture, followed by 37.75 percent for Total and 11.25 percent for the Spanish oil company.

Samsung Engineering said that the latest contract will permit greater cooperation with Sonatrach down the line and permit the company to make greater inroads in the African construction and engineering market.

In 2009, the company secured the $2.6 billion Skikda oil refinery work from Algeria's state-run company...
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