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Japan’s JGC wins Algeria oilfield project
Japan's JGC Corp said on Tuesday it has won the engineering, procurement and construction (EPC) order for the Bir Seba Field Development project in Algeria for more than $400 million.
August 29, 2011 12:01 by Reuters
The company said it won a lump-sum turn-key project to build a gathering system from 16 productive wells, a 20,000 barrels per day crude oil processing facility and an oil and gas export pipeline by the first half of 2014.
JGC said it was awarded the contract from Groupement Bir Seba, a consortium of Algerian state energy firm Sonatrach, Petrovietnam Exploration Production Corporation (PVEP), and PTT Exploration and Production Algeria (PTTEP).
JGC’s shares rose 2.8 percent to 2,215 yen, outperforming a 1.1 percent rise in the benchmark Nikkei average. (Reporting by Osamu Tsukimori; Editing by Edmund Klamann)