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2019-01-21 11:00:00

TOTAL, SONATRACH INVESTMENT $1.4 BLN

TOTAL, SONATRACH INVESTMENT $1.4 BLN

PLATTSAlgerian state oil company Sonatrach and French oil company Total have signed an agreement to form a new joint venture, known as Sonatrach Total Company Polymers Company or 'STEP,' for a petrochemical project in Arzew, western Algeria, Sonatrach said in a press release.

The project will include a propane dehydrogenation (PDH) unit and a polypropylene production unit with an output capacity of 550,000 mt/year, the company said.

The PDH unit will consume 650,000 mt/year of propane.

The companies plan to invest around $1.4 billion for the project with Sonatrach and and Total sharing 51% and 49%, respectively.

 

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 ALGERIAN OIL & GAS UP
2016, June, 27, 18:10:00

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Oil output will reach 69 million tonnes of oil equivalent in 2016, against 67 million tonnes last year, while gas production will rise to 132.2 billion cubic meters (bcm) from 128.3 bcm in 2015 and 130.9 bcm in 2014, a Sonatrach report showed.

 

 

Tags: TOTAL, SONATRACH, INVESTMENT, ALGERIA

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