Leighton awarded US$523mn Iraq oil export deal

oil-export

Leighton Offshore was awarded a contract in Iraq to expand oil export facilities in the south of the country.

The project must be completed within 16 months and will be funded by a Japanese government loan, government spokesman Ali al-Dabbagh said in a statement.

Leighton will build a single point mooring buoy (SPM) with an export capacity of 900,000 bpd and construct a 48-inch sea export pipeline to transport crude from storage depots in Iraq’s southern Faw peninsula to the new floating terminal.

"Leighton Offshore has demonstrated its ability to deliver complex projects in difficult and remote locations and we are extremely proud to be a part of the rebuilding of Iraq's oil export infrastructure which is critical to Iraq's economy," Leighton Holdings Chief Executive Officer, Hamish Tyrwhitt said

The contract is part of a greater expansion project involving the building of two marine pipelines and one onshore pipeline and installing four single point moorings (SPMs) for loading oil tankers at a total cost of about US$1.3 billion.

Foster Wheeler AG is handling the project management consultancy services.

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