Report: Petrofac picked for $95m Iraq SPM contract

UAE-based firm beats Saipem and Leighton Offshore to maintenance deal

Exports from Basra have increased to over 2 million bpd, thanks to new bouy-based mooring points fro VLCCs. GETTY IMAGES
Exports from Basra have increased to over 2 million bpd, thanks to new bouy-based mooring points fro VLCCs. GETTY IMAGES

Petrofac has won a $95 million contract for the maintenance of two new single-point mooring systems offshore Basra, according to a Reuters report.

Citing an unnamed Iraqi oil official, Reuters reports that Petrofac will check the SPMs for leaks and faults and take repairs as needed.

Petrofac declined to comment on the report.

Iraq’s South Oil Company chose Petrofac over Saipem and Leighton Offshore, the Australian construction firm which is building the SPMs.

Two of four planned SPMs have been finished at Basra, significantly increasing Iraq’s export capacity.

Iraq exported an average 2.452 million barrels per day in May, including 2.086 million from Basra and 366,000 from northern fields.

 

 

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