Shoreline secures US$200 million Afreximbank facilityFinancing supports Arkad's delivery of the Hassi Bir Rekaiz project and Shoreline's wider infrastructure pipeline
By: Shoreline Group Approved in June 2026, the facility was arranged and provided by Afreximbank as sole mandated lead arranger and lender. It provides bonding and working-capital capacity for Arkad's delivery of the Hassi Bir Rekaiz project and supports Shoreline and its affiliates in developing further pipeline and infrastructure projects in Nigeria and other permitted jurisdictions. Kola Karim, Chairman of Shoreline Group, said: "This is a defining transaction for Shoreline and Arkad. We built Arkad as an African-sponsored engineering platform capable of competing at the highest level, and it is now delivering against a billion-dollar energy contract. Afreximbank's US$200 million commitment gives the platform the financial strength to match its engineering capability and pursue further major infrastructure mandates. It demonstrates that African enterprises can assemble the capital, capability and partnerships required to compete for infrastructure at international scale." Hassi Bir Rekaiz Phase 2a Arkad holds 44 per cent of the approximately US$1 billion EPCCS-1 contract awarded by Groupement Hassi Bir Rekaiz (GHBR) to an unincorporated consortium led by Egypt's Petrojet, which holds 56 per cent. EPCCS-1 covers engineering, procurement, construction, commissioning and start-up for the Phase 2a central processing facility and related infrastructure at the Hassi Bir Rekaiz field in Algeria's Berkine Basin. GHBR is the joint operating entity for the licence, held by Sonatrach with 51 per cent and Thailand's PTTEP with 49 per cent. The project includes a new crude oil processing facility with capacity of 31,500 barrels per day, facilities for associated gas and produced-water treatment, approximately 217 kilometres of pipelines and the brownfield modifications required to integrate existing Phase 1 infrastructure. The facilities are designed to support later expansion to 63,000 barrels per day under Phase 2b. Andrea Brunetti, Chief Executive Officer of Arkad S.p.A., said: "This financing addresses the instruments that determine whether an EPC contractor can execute at scale: performance guarantees, advance payment guarantees and working capital through the project cycle. Hassi Bir Rekaiz is a demanding scope, combining a new central processing facility, associated treatment systems, pipelines and brownfield integration. With Petrojet, and with the support of Shoreline and Afreximbank, Arkad is focused on disciplined delivery against the project's safety, quality and schedule requirements." The transaction was structured under Afreximbank's Engineering, Procurement and Construction Initiative, which supports African engineering and construction firms with the financial instruments required to compete for and execute large infrastructure contracts. Afreximbank also supported the Arkad-Petrojet partnership through its EPC twinning work at the Intra-African Trade Fair held in Algiers in 2025. According to Afreximbank, the transaction is its first support for a Sub-Saharan African contractor undertaking a major infrastructure project in North Africa. For Shoreline, it demonstrates a practical model for combining African ownership and capital with established international engineering and industrial capability. ENDS About Shoreline Group Shoreline Group is a Lagos-based energy and infrastructure investment platform focused on Sub-Saharan Africa. Through its operating companies and platform investments, Shoreline develops, owns and operates upstream oil and gas, power generation, gas infrastructure and engineering and construction businesses. About Arkad S.p.A. Arkad S.p.A. is an Italian engineering, procurement, construction and commissioning contractor serving the oil, gas and energy sectors. Media enquiries Funmi Tejuosho, Shoreline Group Office of the Chairman: funmi.tejuosho@ Fatou Panizzi, Arkad S.p.A. Corporate Communications: End
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