|09 January, 2020

Algeria's Sonatrach inks $3.7bln-worth deal for new refinery

The new refinery would have a total production capacity of five million barrels per year

Image used for illustrative purpose. Distillation tank of oil refinery plant, twilight time.

Image used for illustrative purpose. Distillation tank of oil refinery plant, twilight time.

Gettyimages
ALGIERS -- The Algerian energy giant Sonatrach inked Wednesday a deal with a consortium of Tecnicas Reunidas (Spain) and Samsung Engineering (South Korea) to build a new oil refinery in the western Ouargla Province.

In a press statement, Sonatrach estimated the value of the deal at 440 billion Algerian dinars (roughly USD 3.7 dollars).

It pointed out that the new refinery would have a total production capacity of five million barrels per year. (end) mr.ibi
 

All KUNA right are reserved © 2019. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Energy