Algiers: The Petroleum Projects and Technical Consultations Company (Petrojet) has secured a preliminary award for the general contractor role in the second-phase development of Algeria's Hassi Bir Rkaiz oil field, with a total value of $1.087 billion, following a competitive bidding process against major international firms.

According to State Information Service Egypt, Petroleum and Mineral Resources Minister Karim Badawi emphasized the importance of Petrojet's continued international expansion, noting the company's success in implementing major energy and infrastructure projects across several countries. He stressed the need to promote Petrojet's technical expertise and accumulated experience in regional and global markets.

The minister added that the company's growing presence abroad aligns with the ministry's sixth strategic pillar, which aims to strengthen regional cooperation with partner countries and capitalize on the capabilities of Egyptian petroleum sector companies to execute large-scale projects abroad, particularly in Arab and African markets.

Petrojet is executing the project in partnership with Italy's Arkad Spa under a consortium led by Petrojet, for the benefit of the Hassi Bir Rkaiz joint venture - a partnership between Algeria's Sonatrach and Thailand's PTTEP. The project involves constructing a central processing facility with a capacity of 31,500 barrels per day, along with associated infrastructure, including 217 kilometers of pipelines.

The project marks a significant strategic milestone for Petrojet and reflects the company's growing footprint in the Algerian market. It also coincides with ongoing cooperation with Sonatrach to establish joint manufacturing workshops, aimed at maximizing added value and utilizing Petrojet's excess capacities in foreign markets to generate sustainable foreign currency revenues.