LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Sonatrach and TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) decided to settle all disputes in relation to the terminated Contract of the rehabilitation of the refinery in Algiers and to immediately end the arbitration proceedings.
Sonatrach expressed its satisfaction to have reached a definitive agreement that ends a litigation that was detrimental to both parties.
Thierry Pilenko, Executif Chairman of TechnipFMC, stated to be very pleased to have reached a final and amicable settlement of this dispute. This settlement is satisfactory to both parties involved and will allow us to look together to the future.
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