Petrofac awarded second phase of Iraq project
LONDON -- Petrofac has announced a contract extension from South Oil Company (SOC) for its Iraq Crude Oil Expansion Project. The 12-month extension, worth around $99 million includes the second phase of the project and will see Petrofac provide an additional scope of operations and maintenance services.
The extension follows the original award made in 2012 for phase one of the project which covered operations and maintenance services on the offshore facilities including an offshore platform, metering station, two single point moorings (SPMs), subsea pipelines and tanker operations, all based 60 km offshore the Al Fao Peninsula in southern Iraq. The extension, relating to phase two, covers two additional single point moorings (SPMs) and a Central Metering and Maintenance Platform (CMMP).
Mani Rajapathy, Senior V.P. MENA/CIS, Petrofac Offshore Projects & Operations, said, “Over the past 12 months we’ve achieved some significant milestones on behalf of our customer SOC, including the export of 240 million barrels of oil and one million man-hours worked without a lost time incident (LTI). The contract is a great example of project execution including our ability to deliver work successfully and safely in a logistically complex working environment.”
The original contract was awarded in August 2012 for 12 months following a three month mobilization period and was worth approximately $100 million. The extension comes into effect in November 2013 and there is a further one-year extension option available to SOC.