(Forex Guides) Algerian state energy company Sonatrach has awarded U.S. oil service firms Schlumberger and Weatherford contracts for cementing and pumping services, a Sonatrach document said.
Schlumberger
was awarded a $75 million contract, and Weatherford a $11 million
contract, according to the document seen by Reuters.
Baker
Hughes has also secured a $50 million contract through its Algerian
unit BJSP, in which Sonatrach owns 51 percent. The fourth contract worth
$44 million has been awarded to the Emirati firm NPS.
OPEC member Algeria has been trying to attract foreign oil companies to explore for oil to offset stagnant production.
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