PetroSA to establish $3 billion GTL project in Algeria
19/10/2006
South Africa's national oil company PetroSA announced on Wednesday (October 18th) it is confident of winning a $3 billion contract to establish a gas-to-liquid (GTL) project in Algeria. The company already operates the largest GTL plant at Mossel Bay.
The Algerian government invited PetroSA and other bidders to bid on the Tinhert integrated GTL project. The integrated project includes upstream gas exploration and development, midstream transport and a downstream GTL unit. The final bids for the tender should be submitted in November.
The contract for the project was initially scheduled to be awarded in the first half of this year, but was delayed due to uncertainties over the regulatory framework and the share of Sonatrach in the project. Previously, Sonatrach had been expected to retain a 25 per cent share, but recent amendments in the hydrocarbons law make a 51% stake likely. (Reuters, Engineering News)
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