{"id":673954,"date":"2025-10-21T00:00:00","date_gmt":"2025-10-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/21\/petrojet-secures-usd-1-bn-contract-to-develop-algerian-oil-field\/"},"modified":"2025-10-21T00:00:00","modified_gmt":"2025-10-21T00:00:00","slug":"petrojet-secures-usd-1-bn-contract-to-develop-algerian-oil-field","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/21\/petrojet-secures-usd-1-bn-contract-to-develop-algerian-oil-field\/","title":{"rendered":"Petrojet secures USD 1 bn contract to develop Algerian oil field"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Petr<\/strong><strong>ojet lands USD 1 bn contract to develop Algerian field: <\/strong>State-owned oil and gas contractor Petrojet was awarded a USD 1.1 bn contract to develop the second phase of the Hassi Bir Rkaiz field project in Algeria, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=1131685665813070&id=100069149411340&mibextid=wwXIfr&rdid=ewucDTRNZJgFW2o4#\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. The company took part in a competitive bidding process against major international firms for the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Petrojet will lead a consortium alongside Italy\u2019s Arkad SpA to execute the project. The project includes the construction of a central processing facility with a capacity of 31.5k barrels per day, along with linked infrastructure, including 217 km of pipelines.<\/p>\n<p class=\"tag-border-left\">M&A WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Delta Ins. shares were valued at EGP 40.54 <\/strong>under a fair value report prepared by independent advisor BDO Keys Financial Consulting and approved by Delta\u2019s board, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/937.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the EGX. The fair value study price is higher than Wafa Assurance\u2019s EGP 40 per share offered in its mandatory tender offer. The board described the offer as a positive chance for shareholders to achieve strong returns and said this would enhance the company\u2019s competitive position while ensuring job stability for employees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Casablanca-listed Wafa Assurance received regulatory approval <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be348cc5-4537-409b-aa26-e9b91d1326cc\/fra-greenlights-wafa,-raya-tender-offers-as-bids-go-live-on-egx\" style=\"\" rel=\"noopener\">last month<\/a> to launch its mandatory tender offer for up to 125 mn Delta shares \u2014 representing 100% of the company \u2014 at EGP 40 per share, valuing the transaction at up to EGP 5 bn. Shareholders have until 27 October to respond, with settlement due within five days of the offer\u2019s close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#<\/strong><strong>2-<\/strong><strong> Middle East Glass\u2019 general assembly approved the merging of three of its <\/strong><strong>subsidiaries into the company<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/959.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Following the merger of Misr Glass Manufacturing, MEG Misr for Glass, and Middle East Glass Containers-Sadat, the parent company will maintain its authorized capital at EGP 150 mn and issued capital at EGP 62.6 mn, with the EGP 755.2 mn difference between equity rights recorded in reserves.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Saudi <\/strong><strong><a target=\"_blank\" href=\"https:\/\/alhassanest.com\/en\/\" style=\"\" rel=\"noopener\">Al Hassan Contracting<\/a><\/strong><strong> is in talks with Egyptian digital transformation <\/strong><strong>and cybersecurity solutions company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/digital-planets.net\/\" style=\"\" rel=\"noopener\">Digital Planets<\/a><\/strong><strong> over a<\/strong><strong> 50% stake acquisition<\/strong>, Digital Planets\u2019 CEO Ahmed Hanafy told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/2080755\/%D8%A7%D9%84%D8%AD%D8%B3%D9%86-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D8%A7%D8%AA-%D8%AA%D8%AA%D9%81%D8%A7%D9%88%D8%B6-%D9%84%D8%B4%D8%B1%D8%A7%D8%A1-50\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The transaction \u2014 which could later extend to include Digital Planets\u2019 UAE operations \u2014 follows Al Hassan\u2019s earlier acquisition of a 50% stake in the company\u2019s Saudi subsidiary, Hanafy told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the pipeline: <\/strong>Digital Planets is preparing to enter the Omani market next year, Hanafy told us. The move aims to strengthen the company\u2019s presence in the GGC. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Middle East Glass\u2019 general assembly approved the merging of three of its subsidiaries into the company<\/p>\n","protected":false},"author":1,"featured_media":673955,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,102,68,93,72,76,181,7128,131,7425,2324],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-673954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-capital-markets","tag-egx","tag-energy","tag-enterpriseam","tag-financial-regulatory-authority","tag-insurance","tag-ma-watch","tag-manufacturing","tag-middle-east-glass-manufacturing-company","tag-petrojet","wpautop","entry"],"acf":{"mongo_id":"2090ff6d-6d9c-452a-8c20-4b18e0170a0b","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/10\/981.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Petrojet secures USD 1 bn contract to develop Algerian oil field","related_issue":[673936],"teaser":"PLUS- Middle East Glass\u2019 general assembly approved the merging of three of its subsidiaries into the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.af4f5c7f-de21-40a8-adba-519d8d2f1b90.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The complex will produce around 2.8 mn\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":632647,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/15\/baker-hughes-ge-signs-egp-1-bn-contract-with-petrojet\/","url_meta":{"origin":673954,"position":1},"title":"Baker Hughes GE signs EGP 1 bn contract with Petrojet","author":"enterpriseam admin","date":"15 February 2018","format":false,"excerpt":"Baker Hughes GE signed a EGP 1 bn contract with state-owned Petrojet which would see it consult on expanding Petrojet\u2019s industrial services for the oil and gas exploration, according to a Oil Ministry statement picked up by Al Mal. Petrojet hopes to manufacture, build and test offshore structures and components\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570893,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/saipem-partners-with-petrojet-to-build-egypts-first-polybutadiene-plant\/","url_meta":{"origin":673954,"position":2},"title":"Saipem partners with Petrojet to build Egypt\u2019s first polybutadiene plant","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"A consortium of Saipem and Petrojet has been awarded a contract by the Egyptian Ethylene and Derivatives Co. (Ethydco) to build Egypt\u2019s first polybutadiene plant, Saipem said in a statement. 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