Petrofac wins $1.15 bln Algerian gas field contract

OSLO, Norway, April 12 (Reuters) – Norway’s Statoil (STL.OL: Quote, Profile, Research)
said it and two partners in Algeria’s In Salah Southern Fields
gas project have signed a $1.15 billion field development
contract with Petrofac International (PFC.L: Quote, Profile, Research).

The engineering, procurement and construction contract is
part of the phase two development of the In Salah license.
Statoil said first gas from the Southern Fields development
project is expected for the first half of 2014.

Statoil has a 31.85 percent investment share in the license.
BP (BP.L: Quote, Profile, Research) has 33.15 percent and Algeria’s state-owned Sonatrach
owns 35 percent.

Petrofac wins $1.15 bln Algerian gas field contract