NEW USD 400 MILLION CONTRACT AWARDED IN ALGERIA IN THE OIL & GAS BUSINESS

Milan, 9 June 2020Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A. has been awarded by Groupement Bir Seba an EPC contract for the execution of the “Bir Seba Phase II and Mouiat Outlad Messaoud Field Development” Project, in Algeria. Groupement Bir Seba is composed of Algeria’s state-owned Sonatrach, Petrovietnam Exploration Production Corporation, and PTT Exploration & Production Algeria, a subsidiary of Thailand’s national oil company PTTEP. The project will be implemented in the Bir Seba and Mouiat Outlad Messaoud oil fields, located in the Touggourt area, about 130 km northeast of Hassi Messaoud.

The overall contract value is approximately USD 400 million. The scope of work includes full Engineering, Procurement and Construction activities.

The project entails the expansion of an existing oil central processing facility, with the installation of a new oil separation train to double the total capacity up to 40,000 barrels of oil per day. The project also includes the installation of 2 additional remote gathering stations and more than 400 km of pipelines to connect the new oil production wells, along with the implementation of gas lift and water injection facilities.

Project completion is scheduled after 40 months from the contract effective date.

Pierroberto Folgiero, Maire Tecnimont Group CEO, stated: “After our previous award with Sonatrach in 2018, this achievement lets us further consolidate our industrial footprint in the strategic Algerian market in the crucial oil & gas sector, having matured a solid experience of projects’ execution in other Middle Eastern and North African countries. We are really proud to strengthen a mutually beneficial relationship with such prominent clients, as sound evidence of our successful operations in the Country. This is the fifth major award for our Group in 2020 in spite of the ongoing Covid pandemic and is a further testament of our core business’ resilience.”

Maire Tecnimont SpA

Maire Tecnimont S.p.A. is a company listed on the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the natural resources processing sector (plant engineering in the oil&gas downstream industry, with specific technological and execution capabilities). Through its subsidiary NextChem the Group operates in the field of Green Chemistry and technologies supporting the energy transition. The Maire Tecnimont Group operates in approximately 45 different countries, numbering around 50 operative companies and a workforce of more than 6,300 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com.

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