(Alliance News) - Maire Tecnimont Spa announced Thursday that a consortium comprising its subsidiary Tecnimont - Integrated E&C Solutions and Baker Hughes has been awarded an engineering, procurement and construction contract by Sonatrach for the construction of three compressor stations, as well as the upgrading of the gas gathering system, in the Hassi R'mel gas field, 550 kilometers south of Algiers.

The total value of the contract is about USD2.3 billion, of which Tecnimont is responsible for USD1.7 billion.

The field, the company points out, is the largest in Algeria and one of the largest in the world.

The project includes the construction of three gas compression stations, including turbo compressors capable of compressing about 188 million cubic meters per day of natural gas, In addition, the project includes the upgrading of the gathering system, which includes more than 300 km of pipelines connecting the wells. The project is expected to be completed within 39 months from the effective date of the contract.

Alessandro Bernini, managing director of Maire Group, commented, "Following the award of the alkylbenzene plant in the Skikda industrial zone last March, Sonatrach is once again relying on the execution capabilities of our group. The development of this important new project strengthens our business relationship with Sonatrach and especially the bilateral relations between Italy and Algeria. This award, in fact, represents a strong recognition for the entire Italian value chain, having Baker Hughes consortium partners and, more generally, has an important economic impact on our country."

Maire trades in the green by 3.3 percent at EUR7.85 per share.

By Chiara Bruschi, Alliance News reporter

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