South Oil Company (SOC) has awarded Petrofac a one-year contract to continue to provide operations and maintenance services at its export facilities for the Iraq Crude Oil Export Expansion Project (ICOEEP)
The one-year contract, with a one-year option, worth US$75 million, was awarded following a competitive tender. Petrofac which is an international service provider for the oil and gas production and processing industry, has been working with SOC for four years.
Under the new agreement, Petrofac will continue to facilitate a substantial proportion of Iraq’s oil exports which is generated from the facility located 60km offshore the Al Fao Peninsula in Southern Iraq. The company’s principal role comprises the central metering and maintenance platform and four single point moorings, and the loading of the tankers for onward transportation.
Mani Rajapathy, Managing Director, Engineering & Production Services East, said: “Over the last four years we’ve achieved some significant milestones on this project, including the export of more than 1.5bn barrels of oil. We have remained focused on adding value for our client through the deployment of innovative and differentiated solutions and on working safely in a complex operating environment. Earlier this year the teams celebrated achieving five million man-hours worked without a lost time incident which is testament to the safety culture that has been created on the project.”
Hayan A. Abdulzahra, Director General, South Oil Company, said: “From the beginning of our relationship Petrofac has been aligned to our goals to significantly increase production from the ICOEEP facility. This has been realised through the team’s continued focus on operational excellence and safe and innovative project execution. I look forward to continuing to meet our safety and export milestones with Petrofac as our partner.”
