Aug 10 - QP Awarded 10% Stake in Arzew Project

Source Press
Company SonatrachQatar PetroleumTotal 
Tags Refining & Marketing Activities
Date August 23, 2010

(El Khabar) Qatar Petroleum has been awarded a 10% stake in the Arzew project to construct an ethane cracker.  Sonatrach awarded a contract to Total to construct the ethane cracker where Total had a controlling 51% stake and Algeria’s  Sonatrach 49%. However new governmental regulations obliging local partners to control the majority of any JV project with foreign partners have forced the French oil giant to relinquish some of its share. This situation has affected the development of the US$5 bln project which was slated for completion in 2013.

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