LONDON, PARIS and HOUSTON, June 5, 2017 Sonatrach and TechnipFMC have decided to adjust fully and finally all disputes relating to the termination of the contract for the rehabilitation of the refinery of Algiers and put an immediate end to the arbitration procedure.
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Sonatrach has expressed his satisfaction to have reached a final agreement that puts an end to a litigation detrimental to both businesses.
Thierry Pilenko, chief Executive officer of TechnipFMC, said he would be very happy to have reached the final settlement and amicable settlement of the dispute. This agreement is satisfactory to both parties, and we can now look towards the future.
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