South Korea’s Daewoo Engineering & Construction has won approval from Iraq to build a US$588.8mn gas and oil separation plant (GOSP) at the Zubair oilfield
The South Korean company will carry out engineering, procurement and construction (EPC) work on the plant, which will situated in the south of the oilfield.
The plant’s output is forecasted to reach 850,000 bpd in 2017, according to Italian operator Eni.
The development of the Zubair oilfield is led by Eni with 32.8 per cent, Occidental Petroleum Corporation with 23.4 per cent holding, Korea Gas Corporation (KOGAS) holding 18.8 per cent stake and Iraq’s state-run Missan Oil Company with 25 per cent stake.
Eni, Occidental Petroleum Corporation and KOGAS had signed a 20-year deal with Iraq in 2010 to develop Zubair, whose production is currently at 320,000 bpd.
