Algeria Petrochemical industry: Sonatrach signs three contracts with its Turkish partner

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Petrochemical industry: Sonatrach signs three contracts with Turkish partner

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The Algerian national oil company, Sonatrach, has just signed three contracts with its Turkish partner for the development of the petrochemical project, concerning the production of Polypropylene in the city of Ceyhan in Turkey, a statement from the group said on Saturday.

The first contract is linked to the completion of the project in all its stages, including detailed engineering studies, procurement, completion and commissioning (EPCC). The second contract concerns periodic maintenance work on devices and equipment. The third contract concerns production sales and marketing services, the same source said.

In addition to the CEO of Sonatrach, Toufik Hakkar, the signing ceremony took place in the presence of the Turkish President, Recep Tayyip Erdogan, Turkish Ministers of Industry and Transport and CEOs of Renaissance, partner of the Sonatrach group in this project, as well as representatives of the contracting parties and representatives of the Algerian Embassy in Turkey.

"The signing of these contracts is the culmination of more than two years of continuous work and negotiations and is an important step in the search for international funding for this strategic project," the statement said.

As a reminder, Sonatrach is contributing up to 34% in this project and guarantees its supply of propane raw material under a long-term contract based on international market prices.
 

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