Petrofac and STEP Polymers SPA, which is a 100% subsidiary of Sonatrach that works for petrochemical complex in the Arzew Industrial Zone in Algeria, have entered into a definitive agreement.

According to this agreement, Petrofac will deliver the $1.5 billion project with its joint venture partner China Huanqiu Contracting & Engineering Corporation (HQC), with Petrofac’s share valued at over $1 billion.

Tareq Kawash, Petrofac’s Group Chief Executive, said:

“I am delighted to be in Algiers alongside our partner and client to mark the official award of this pioneering project. Broadening Petrofac’s portfolio within the petrochemical sector, this contract builds on our 25-year track record of safely delivering strategically significant energy infrastructure in Algeria, while developing local workforces.”