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GE, Sonatrach And Sonelgaz Expanding Joint Venture

Posted on March 23, 2006

Sonatrach, Sonelgaz and General Electric have announced plans to expand Algesco SA, a gas turbine services joint venture based in Hassi R’Mel, Algeria that serves the oil and gas and power generation industries. The move will increase GE’s participation in Algesco from 48 to 52%. Algesco is a joint venture company established in 1993, specializing in services for gas turbines installed in the oil and gas and power generation industries.

Sonatrach, the Algerian national oil and gas company, and Sonelgaz, the state-owned utility for electricity and natural gas, will continue to play key roles in Algesco, with each maintaining 24% ownership shares. The agreement is designed to increase the current capabilities of Algesco, and will include the construction of a new service center to be located in the Hassi Messaoud area of Algeria. The center will offer expanded services such as restoring gas turbine components to their original conditions, restoring the original physical features of materials, and extending the expected life of gas turbine components. The new facility will serve not only gas turbines but also compressors, pumps and other equipment installed in the oil and gas and power generation industries.

For more information: www.ge.com

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