Petrofac wins $160mn contract in Iraq from Basra Oil Company
The new two-year extension reflects Petrofac's continued delivery focus and five-year track record as the incumbent operations and maintenance service provider.
Petrofac's Engineering & Production Services (EPS) division has secured an award worth $160mn from Basra Oil Company (BOC), previously known as South Oil Company, for its Iraq Crude Oil Export Expansion Project (ICOEEP).
The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service provider.
The facility, which is responsible for a significant proportion of Iraq’s oil export, is located 60km offshore the Al Fao Peninsula in Southern Iraq. It comprises a central metering and manifold platform and four single point moorings which facilitate oil export onto awaiting crude carrier tankers.
In addition, Petrofac is responsible for almost 300km of subsea pipelines, 1,800 metres of subsea hose infrastructure and a marine spread comprising 14 vessels.
Mani Rajapathy, managing director, Engineering & Production Services 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.”
Ihsan Ismaael, director general, Basra Oil Company, said: “Petrofac is a key partner for BOC. 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.”