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

Algeria: Energy: Algeria, contracts for Schlumberger and Halliburton




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
  • African Union merges science and education bodies

    2016/01/13 The Africa Union has merged its science and education bodies in a move designed to improve sectoral relationships, effectiveness and efficiency. The African Ministerial Council on Science and Technology and the Conference of Ministers of Education of the African Union will presently operate as one entity. “The decision of the heads of states was as well motivated by the need to streamline ministerial conferences, limit their number and confer the power to convene them to the African Union Commission and save costs,” Dr Mahama Ouedraogo, the African Union’s chief of human resources, science and technology, told University World News.
  • Euro-Mediterranean virtual energy university endorsed

    2016/01/12 Five North African nations – Algeria, Egypt, Mauritania, Morocco and Tunisia – along with 38 European and Mediterranean states stand to benefit from a new initiative to set up an ‘energy university’ that will provide free, specialised education for energy professionals via an online platform. Senior officials of the 43 member states of the Union for the Mediterranean, or UfM, endorsed the new university during a conference in Barcelona, Spain, that was held next a high-level UfM conference entitled “Towards a Common Development Schedule for the Mediterranean” on 26 November.
  • Algerian-African Economic Meeting in 2016

    2016/01/11 Partnerships between Algerian economic operators and their counterparts from forty African nations will be the focus of a conference the Business Leaders Forum (FCE) intends to hold in October 2016, a representative of the organization announced Wednesday. "Algeria has excellent diplomatic and political relations with African nations, but in economy, these relationships have not capitalized. The conference under the FCE will include dozens of business leaders in these nations with their counterparts Algeria to boost our economic relations and launch significant partnerships," President of the International Relations Committee in the FCE told APS.
  • New York Times asks Who Runs Algeria?

    2016/01/05 Finally, the International media has begun to pay attention to the volatile political and security situation in Algeria. In its December 23 edition, the influential American daily the New York Times published an article “doubting that the ailing President Abdelaziz Bouteflika” is running his country. As French news outlets keep avoiding this subject, it is presently up to the Moroccan and American media to highlight the dangers of a potential collapse of the Algerian national on oil prices, war on terrorism and stability in North Africa, Southern Europe and the Sahel. Citing the jailing of three generals, inclunding General Hassan, the deputy chief of the intelligence service responsible for counterterrorism, and the dismissal of several dozen officers since the summer, the New York Times states that “the power struggle within the closed circle that has ruled Algeria for decades has spilled into the open in recent weeks, with accusations of a soft coup, as questions intensify about the health of President Abdelaziz Bouteflika.”
  • Global growth will be disappointing in 2016: IMF's Lagarde

    2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.