Sonatrach has awarded Baker Hughes with a major contract for a gas-boosting project for the Hassi R’Mel gas field in Algeria, Baker Hughes said on May 23.
The contract is part of a larger order awarded to a consortium of Baker Hughes and Tecnimont, part of technology and engineering group MAIRE.
Baker Hughes’ award scope includes the supply of 20 compression trains to be installed across three gas boosting stations within the Hassi R’ Mel gas field. Packaging of the compressor trains, as well as manufacturing of the compressors and testing of the trains, will take place at Baker Hughes’ facilities in Italy.
Located 550 km south of Algiers, Hassi R’ Mel is the largest gas field in Algeria and one of the largest in the world. The Hassi R’ Mel Project is part of a strategic collaboration between Algeria and Italy, which includes recently signed agreements to foster bilateral cooperation and provide financial support for Algeria’s gas production.
Recommended Reading
After BKV’s IPO, Is Market Open to More Public SMID Caps?
2024-10-03 - The market for new E&P and energy IPOs has been tepid since the COVID-19 pandemic. But investor appetite is growing for new small- and mid-sized energy IPOs, says Citigroup Managing Director Dylan Tornay.
Private Equity Gears Up for Big Opportunities
2024-10-04 - The private equity sector is having a moment in the upstream space.
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
2024-10-10 - Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.
Companies Take Advantage of ABSs to Finance Acquisitions
2024-10-17 - Some companies have taken advantage of asset-backed securitizations to monetize some of their cash flows and better position themselves for a sale.
Energy Sector Sees Dramatic Increase in Private Equity Funding
2024-11-21 - In a 10-day period, private equity firms announced almost $20 billion in energy funding. Is an end in sight for the fossil fuel capital drought?
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.