Africa > North Africa > Algeria > Energy: Algeria, contracts for Schlumberger and Halliburton

Algeria: Energy: Algeria, contracts for Schlumberger and Halliburton

2012/09/18

 

 

Energy: Algeria, contracts for Schlumberger and Halliburton

Algerian energy giant Sonatrach announced it has signed four contracts with the French-US group Schlumberger and with HESP; an Algerian-American conglomerate including Halliburton; for test bores in hydrocarbon camps in Algeria.

The contracts are worth overall 573 million dollars. The contracts with Schlumberger total 341 million dollars while those with HESP (Halliburton Entreprise de services aux Puits) have a value of 232 million dollars.

HESP is a services company: 51% of its capital is owned by Algeria's Entreprise Nationale de Services aux Puits while the remaining 49% belongs to Halliburton. 

Related Articles
  • Routes Africa forum aims to improve African air connectivity

    2016/05/15  An event dedicated to the development of the African aviation industry will take place next month in Tenerife (26-28 June) to encourage the launch of new air services to, from and within the African continent. Routes Africa 2016 will help to improve African connectivity by bringing together airlines, airports and tourism authorities to discuss next air services. Around 250 route development professionals are expected to attend the forum which was founded ten years ago to stimulate increase in the industry.
  • While Europe is on the verge of breaking up, Africa is reaping the benefits of integrating, growing and developing its trading blocks

    2016/05/13 The collapse of virtual borders is one of the majority remarkable things to have happened in our lifetimes. In the world of cyberspace, time and distance have become almost peripheral considerations at the same time as it comes to doing business. Services from software development to accounting can be delivered across the world in the blink of an eye. Next business leaders will struggle to imagine an era at the same time as communication was neither immediate nor virtually free.
  • Africa’s economic growth is likely to be slower in the intervening years

    2016/05/12 Africa’s economic increase is likely to be slower in the intervening years than in the before decade, according to the new rating by Ernst & Young using a barometer to gauge the level of appeal and success.“The baseline projection of the International Monetary Fund (IMF) for 2016 is presently reduced to 3%, while it was estimated at 6.1% in April 2015″, Ernst & Young points out in its rating.
  • Raw materials have long been linked to Africa in many business people’s minds

    2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
  • AfDB and Algeria Redefine the Foundations for Strengthened Partnership

    2016/04/28 Next his initial visit to Algeria since taking office in September 2015, the President of the African Development Bank Group (AfDB), Akinwumi Adesina, expressed his pleasure at the warmth of the welcome the Algerian authorities gave him and at the constructive dialogue throughout the two days of his visit to Algiers on April 19 and 20, 2016. During this visit's rich programme of meetings - with Prime Minister Abdelmalek Sellal, the Minister of Finance, and several members of the Government inclunding with representatives of the Algerian private sector - Adesina and the Algerian authorities established together the foundations of a strengthened partnership to promote inclusive increase in Algeria.