Algeria & Egypt Seal 1 Billion Hydrocarbon Investment Deal
13:52 06.05.2026 (Updated: 14:56 06.05.2026)
© AP Photo / Puits de pétrole dans le désert
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Algeria & Egypt Seal $1 Billion Hydrocarbon Investment Deal
Under the auspices of Algeria's Energy Minister Mohamed Arkab and his Egyptian counterpart Karim Ibrahim Ali Badawi, the Algerian state company Sonatrach has launched Phase II of the Hassi Bir Rekaiz project and signed a strategic hydrocarbon supply deal with Egypt.
Key information of phase II:
🟠Contract Value: Over $1 billion (Engineering, Procurement, and Construction – EPC)
🟠Scope: Includes a 31,500-barrel-per-day crude oil processing unit and associated facilities
🟠Contractor: Awarded to a consortium that includes Egypt's Petrojet
🟠Background: Builds on the first phase launched in 2019
🟠Partners: Sonatrach (Algeria) and PTTEP (Thailand)
🟠Goal: Boost national oil production
Separately, the MoU between Sonatrach and Egypt's EGPC opens the door for negotiations to supply Algerian crude oil and petroleum products to Egypt.
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Under the auspices of Algeria's Energy Minister Mohamed Arkab and his Egyptian counterpart Karim Ibrahim Ali Badawi, the Algerian state company Sonatrach has launched Phase II of the Hassi Bir Rekaiz project and signed a strategic hydrocarbon supply deal with Egypt.
Key information of phase II:
🟠Contract Value: Over $1 billion (Engineering, Procurement, and Construction – EPC)
🟠Scope: Includes a 31,500-barrel-per-day crude oil processing unit and associated facilities
🟠Contractor: Awarded to a consortium that includes Egypt's Petrojet
🟠Background: Builds on the first phase launched in 2019
🟠Partners: Sonatrach (Algeria) and PTTEP (Thailand)
🟠Goal: Boost national oil production
Separately, the MoU between Sonatrach and Egypt's EGPC opens the door for negotiations to supply Algerian crude oil and petroleum products to Egypt.
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Sputnik Africa | X
