PETROJET receives preliminary award for $1.087B Hassi Bir Rekaiz project in Algeria
Updated 10/21/2025 8:06:00 AM
Arab Finance: The Petroleum Projects and Technical Consultations Company (PETROJET) has received a preliminary award for the general contractor contract for the second-phase development of the Hassi Bir Rekaiz conventional oil field in Algeria, valued at $1.087 billion, the Egyptian Ministry of Petroleum and Mineral Resources announced in a statement on October 20th.
The award comes after PETROJET successfully qualified through a competitive process against major international firms.
The company will implement the project in cooperation with Italian engineering and contracting company Arkad SpA, forming a PETROJET-led consortium for the Hassi Bir Rekaiz complex, a partnership between Algerian oil company SONATRACH and Thailand’s petroleum exploration and production company PTTEP.
The project includes building a central processing plant with a capacity of 31,500 barrels per day, along with associated facilities and 217 kilometers of pipelines.
Minister of Petroleum Karim Badawi stressed the importance of PETROJET’s continued international expansion, noting its track record in delivering major projects across several countries.
He said the ministry is advancing the sixth axis of its strategy, focused on enhancing regional cooperation and enabling sector companies to implement major projects abroad, particularly in Arab and African countries.
According to the ministry, the award represents a strategic milestone for PETROJET and reflects its growing footprint in the Algerian market.
It also coincides with efforts to establish joint manufacturing workshops with Sonatrach to boost added value and optimize the company’s surplus capacity for projects in foreign markets, generating valuable foreign currency revenues.
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