Algerian state energy company, Sonatrach, as a part of its strategy to cope with crisis, has awarded $180m in oil service contracts with several international companies, Reuters reported.
The US oil service firm Schlumberger was awarded a $75m contract, and the also American company Weatherford, was awarded a $11m one, both of them for cementing and pumping services.
According to Ennahar, Baker Hughes has also secured a $50m contract through its Algerian unit BJSP, in which Sonatrach owns 51%. The Emirati firm NPS has been awarded the fourth contract of $44m worth.
Algeria has been trying to attract foreign oil companies to explore for oil to offset stagnant production. In addition, the North African country is due to host talks with European Union officials and oil companies later in May on future gas supplies.