Samsung Engineering Bags $800 Million Algerian Gas Project

---

Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Samsung Engineering (KSE:028050KS) (Seoul, South Korea) won the $800 million contract for the construction of the Timimoun Field gas development project in Algeria. The contract was signed this week in Algiers with Groupement Timimoun (GTIM), a joint venture (JV) among Algerian national energy company Sonatrach, Total S.A. (NYSE:TOT) (Paris, France) and Cepsa (MAD:CEP) (Madrid, Spain).

The engineering, procurement and construction (EPC) contract also covers pre-commissioning, on a lump-sum turnkey basis, to build a 180-kilometer pipeline and a central processing facility (CPF), with a capacity of 177 million cubic feet per day. The project, located 800 kilometers southwest of Algiers, is scheduled for completion in 2017.

Samsung Engineering's president and chief executive officer, Choong-Heum Park, said: "Our accumulated experience in the oil and gas sector in MENA [Middle East-North Africa] led to this opportunity to work with GTIM. With our commitment to safety for the project and environment, we will execute and complete this project successfully, and we expect to deepen our footprint in Africa."

View Project Report - 300146294 300146303 300146309

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.