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Sonatrach, WorleyParsons sign 5-year project management services agreement

Algeria's Sonatrach Spa signed a five-year framework agreement with WorleyParsons Ltd., according to March 15 release.

WorleyParsons will provide project management services, which will be used to support Sonatrach's plans to develop its oil and gas production capacity across a number of key projects over the next five years.

The Algerian national oil and gas company aims to become the fifth-largest oil company in the world and previously announced a significant investment program centered the natural resources with emphasis on the oil and gas sector.

Financial details were not disclosed.