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Petrofac wins $160m Iraq project contract

LONDON, December 13, 2017

Leading global oil services company Petrofac said its engineering unit has won a $160-million contract from the Basra Oil Company (BOC), formerly known as the South Oil Company, based in southern Iraq.

The contract, awarded to Petrofac’s Engineering and Production Services (EPS) division, is for BOC’s Iraq crude oil export expansion project (ICOEEP). Petrofac has a five-year record as the incumbent operations and maintenance service provider.

The facility, which is responsible for a significant proportion of Iraq’s oil exports, is located 60 km offshore the Al Fao Peninsula in southern Iraq. It comprises a central metering and manifold platform and four single point moorings which facilitate the loading of crude oil on to awaiting tankers.

In addition, Petrofac is responsible for almost 300 km of subsea pipelines, 1,800 m of subsea hose infrastructure and a marine spread comprising 14 vessels.

Mani Rajapathy, the managing director for Petrofac’s EPS East, said: "We are delighted to continue with our role in support of this key crude export facility. Since the start of our involvement in 2012, we have exported more than 2.2 billion barrels of oil while retaining an impeccable safety record."

"We have also remained focused on adding value for our client through the deployment of innovative and differentiated solutions," he stated.

Ihsan Ismaael, the director-general of BOC, said: "Petrofac is a key partner for us. The team has supported us over the last five years to significantly increase export from the ICOEEP facility and we look forward to continuing our relationship into 2019."

Petrofac announced yesterday the winning of another major contract from BP, worth $800 million, for the Phase Two central processing facility, CPF, at the Khazzan Phase 2, Ghazeer, gas development in Oman.

The company has major operational centres in Sharjah and Abu Dhabi, where it is currently working on the closing stages of the $500 million SARB3 offshore development project and the development of artificial islands for the offshore Upper Zakum field.-TradeArabia News Service




Tags: Iraq | Petrofac | oil project |

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