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Avingtrans : Signs Deal With Samsung Engineering On Algerian Project

04/14/2015 | 03:23am US/Eastern

LONDON (Alliance News) - Avingtrans PLC Tuesday said that Maloney Metalcraft, part of its energy and medical division, has secured a USD3 million contract with Samsung Engineering Co Ltd to design and manufacture a glycol regeneration package for the Timimoun Field Development Project in south-western Algeria.

The Timimoun Field Development Project is a joint venture between Sontract, Total and Compañía Española de Petróleos. The gas project covers 2,500 square kilometres and will include 40 wells, a gas gathering system, central gas processing facilities and a connection to the export pipeline. The development is expected to produce 1.6 billion cubic metres a year of natural gas over eight years.

Avingtrans designs, manufactures and supplies critical components, modules and associated services to the aerospace, energy and medical sectors. Samsung Engineering Co Ltd, is a Korean engineering, procurement and construction contractor.

The contract is due for completion in March 2016.

"The oil and gas industries are currently facing unprecedented challenges but securing this contract is welcome news for our business and recognises the expertise and strong delivery record we've developed in the sector - both when it comes to designing performance critical components and delivering on those designs," Avingtrans' Energy and Medical division Managing Director Austen Adams said in a statement.

Shares in Avingtrans opened down 0.5% at 100.00 pence each Tuesday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved., source Alliance News

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