Deals this week: Petrofac, Advantage Midstream, US Energy

Petrofac has received a $600m contract from Sonatrach to provide engineering, procurement and construction services for the latter’s Tinhert field development project in Ohanet, Algeria.

The scope of the contract includes a new inlet separation and compression centre, as well as the installation of a new 400km-long pipeline network connecting 36 wells. The contract also involves commissioning, start-up and performance testing of the facilities.

Based in Jersey, Petrofac is a provider of oilfield services, while Sonatrach is an Algerian oil and gas company.

Advantage Midstream has entered an agreement with SandRidge Energy to provide its construction and operation services to build a new natural gas refrigeration plant and provide gas processing services for the latter’s North Park basin acreage.

The North Park basin acreage is located in Jackson County, Colorado, US, while the new plant will be built in Jackson County.

Advantage will own and operate the new plant and also market all products processed at the plant, under the terms of the agreement.

Advantage Midstream is a midstream company, while SandRidge Energy is an oil and natural gas exploration and production company. Both firms are based in the US.

The contract aims to strengthen and expand the companies’ partnership in the North Park basin.

US Energy has entered a memorandum of understanding (MoU) with APEG I Partners to acquire the latter’s oil and natural gas producing assets in the North Dakota Bakken formation for $17.8m.

US Energy will purchase all of APEG’s interest in 67 wells located in the counties of Williams and McKenzie, North Dakota, as per the terms of the MoU.

Based in the US, APEG I Partners was formed by Angelus Private Equity Group, a private equity firm, while US Energy, also based in the US, is an independent energy company.

The transaction will enable US Energy to consolidate its leasehold position in the area.