Tecnicas Reunidas SA said that they are set to win the US$1 billion contact for a natural gas processing plant located in Algeria. The Spanish industrial engineering company announced that they were chosen by the joint venture of Algeria's Sonatrach and France's GDF Suez SA to build and design the natural gas-processing plant. The facility is estimated to produce a capacity of 13 million cubic meters of fuel per day. Tecnicas said that they were in competition with Japan's JGC Corp and London-based Petrofac Ltd.
The Touat field in Algeria is estimated to contain at least 8.5 million barrels of condensate and 68.5 billion cubic meters of natural gas. Tecnicas said that they are scheduled to report the second quarter earnings before the opening of the Madrid Stock Market. The company is tagged to set a net income of EUR35.6 million.
Tecnicas Reunidas SA, is the Spanish based general contractor that provides procurement, engineering and construction of power and industrial generation plants, focusing on the gas and oil sector.
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