The Petroleum Projects and Technical Consultations (Petrojet) awarded an insurance tender to Arab Misr Insurance Group (GIG) to provide property insurance for the oil and gas services provider. It is the second time in a row for GIG to win Petrojet’s contract.

Sources with knowledge told Amwal Al Ghad that Petrojet’s policy is a one year term, with total sum insured of EGP 3.5b designated to insure the company’s assets.

The policy will insure the firm’s assets and properties against damages from fire and burglary. It will also cover liability to employees’ personal accidents as well as breakdown of equipment located nationwide and worldwide.

Late 2016, a press release to Egypt Oil&Gas stated that Egypt’s Petrojet Company was awarded a $90m contract to construct a gas pipeline in the Sultanate of Oman.

Under the terms of the agreement, Petrojet will establish a 221km natural gas pipeline with 36-inch diameter. The company will process the the project according to an engineering, procurement and contracting (EGPC) system.