Petrofac awarded US$100 million offshore contract in Iraq
Wednesday, 15 August 2012 08:14
Petrofac has been awarded its first offshore contract in Iraq after winning a US$100mn contract for offshore operations and maintenance services on the Iraq Crude Oil Expansion Project by South Oil Company (SOC)
Petrofac's Offshore Projects & Operations (OPO) will provide operations and maintenance services for the new oil export facilities situated approximately 60km offshore the Al Fao Peninsula in southern Iraq.
The export facilities will include an offshore platform, metering station, single point moorings (SPMs), subsea pipelines and tanker operations.
“This is our first offshore operations contract in Iraq which broadens the scope of our growing operations within an important country for Petrofac,” stated Marwan Chedid, chief executive of Petrofac’s engineering, construction, operations and maintenance division.
The year-long contract will begin after a three-month mobilisation period. According to Petrofac, there will also be additional scope for the contract to be extended via two one-year contract extension options.
Chedid added that this was the first time that Petrofac had been contracted directly by an Iraqi National Oil Company.
SOC director general Dyeyaa Jaafar Hyjam said, "Increasing the export of crude is a key driver for this important project and we are confident that Petrofac can help us deliver our targets and become a trusted partner for SOC over the long term.”