Middle East Economic Survey

VOL. L

No 20

14-May-2007

ALGERIA

Petrovietnam Deploys Drilling Rig To Touggort Blocks

Vietnams state-owned Petrovietnam will deploy a $19mn drilling rig built by Chinas Hong Hua Corporation for work in Algerias onshore Blocks 433a/416b in the Touggourt region. The companys drilling arm, PV Drilling, will operate the rig, which has a one-year contract worth $13mn. Petrovietnam Investment and Development Corporation (PIDC) was awarded the blocks during Algerias third...