Regional stock market indices Regional currency rates Saipem to build gas plant in Algeria The joint venture between Algeria’s state-run energy company Sonatrach and Italy’s Eni has awarded Italy’s Saipem a $1.8 billion construction contract for the development of the Menzel Ledjmet East (MLE) gas field. The facilities will be located in the Berkine Basin, about 1,000 kilometers southeast of Algiers. They will include a processing capacity of 350 million cubic feet a day (cf/d) of gas and 35,000 barrels a day (b/d) of liquid. The acquisition will increase Eni’s reserves by about 190 million barrels of oil within its Algerian asset portfolio. It is worth noting that Eni took control of a 75 percent stake in the MLE field in September 2008 after buying Canada’s First Calgary Petroleum that was at the time developing the field for $865 million. TAQA invests in Moroccan and Tunisian power According of the
