Petrofac bags contract for Iraq expansion project
The 12-month extension will be worth around $106mn bringing the total value of the contract to more than $300mn since it was first awarded in 2012
Petrofac has secured a second contract extension from South Oil Company (SOC) for support on its Iraq Crude Oil Expansion Project.
The 12-month extension, worth around $106mn, comes into effect in December and brings the total value of the contract to more than $300mn since it was first awarded in 2012.
Petrofac is responsible for operations and maintenance services on a range of offshore facilities including an offshore platform.
It also oversees central metering and maintenance platform (CMMP), four single point moorings (SPMs), subsea pipelines and tanker operations, all based 60km offshore the Al Fao Peninsula in southern Iraq.
“This extension builds on Petrofac’s recent successes in Iraq and our commitment to our valued customer SOC,” Mani Rajapathy, senior VP MENA/CIS, Petrofac Offshore Projects & Operations, said.
“Over the past 24 months we’ve loaded 280 tankers and exported 570mn barrels. We have helped to drive consistent improvement in monthly exports, with export for the last six months averaging in excess of 31 million barrels.”
Dyeyaa Jaafar Hyjam, director general, South Oil Company said: “During the last two years, apart from delivering operations and maintenance and export targets, Petrofac has brought in its wider capabilities in engineering, supply chain and project management for the benefit of SOC.
“This contract extension reflects Petrofac's significant contribution to SOC’s improved export from Al Fao, in a safe and efficient manner.”