MAIRE, in a significant development, has disclosed that its subsidiary, Tecnimont (Integrated E&C Solutions), has clinched a substantial EPCC (Engineering, Procurement, Construction, and Commissioning) contract from SONATRACH following a rigorous competitive tendering process. The focus of this contract revolves around the establishment of a new linear alkyl benzene (LAB) plant, strategically positioned in the industrial hub of Skikda, which lies approximately 350 kilometers to the east of Algiers, according to the company's official statement. LAB, being a cost-effective and environmentally friendly intermediate, finds extensive usage in the production of household detergents, industrial cleaners, and surfactants.

The financial aspect of the contract is indeed noteworthy, with an approximate value reaching a staggering USD 1.1 billion. This sizable investment underscores the gravity of the project, emphasizing its strategic significance within the petrochemical landscape. The project's ambit encompasses the erection of a state-of-the-art LAB plant boasting a formidable production capacity of 100,000 tons per annum. In addition to the primary production facility, the project entails the development of auxiliary utilities, offsites, and interconnections with existing infrastructural setups. The projected timeline for the completion of this ambitious venture spans a duration of 44 months, commencing from the effective date of the contractual agreement.

MAIRE, in its official communication, has expressed profound satisfaction in consolidating its longstanding partnership with SONATRACH, a testament to the enduring collaboration between the two entities. This symbiotic relationship, rooted in mutual trust and cooperation, holds immense significance within the context of the evolving global energy landscape. Furthermore, this achievement serves as a testament to MAIRE's unwavering commitment to fostering growth and development in Algeria, thereby reinforcing its footprint in the region. Moreover, the successful execution of this venture is poised to catalyze the optimization of the downstream petrochemical value chain, wherein MAIRE has established itself as a frontrunner on the global stage.

In a related development that underscores the momentum in Algeria's energy sector, TotalEnergies has recently formalized an extension of its Production Sharing Contract with Sonatrach, Occidental, and Eni. This extension, spanning a substantial duration of 25 years, encompasses the onshore Blocks 404a and 208, situated within the Berkine basin in Eastern Algeria. This strategic move underscores TotalEnergies' enduring commitment to the Algerian energy landscape, further cementing its position as a key player in the region's hydrocarbon sector.

MAIRE S.p.A. spearheads a technology and engineering consortium dedicated to devising and implementing cutting-edge solutions aimed at facilitating the Energy Transition.Sonatrach S.P.A. stands as the premier oil and gas entity in Algeria and across the African continent. Renowned for its extensive operations, the company engages in exploration, production, pipeline transportation, as well as the transformation and marketing of hydrocarbons and related by-products. Additionally, the Sonatrach Group extends its reach through diverse holdings and both national and international partnerships, encompassing activities in the distribution and refining of these valuable commodities.