Daewoo secures $708.6 million Iraq field contract

7/29/2013

Daewoo secures $708.6 million Iraq field contract

BY HASSAN HAFIDH

SEOUL -- Daewoo Engineering and Construction has won a contract valued at $708.6 million to upgrade the Akkas gas field in western Iraq, an Iraqi cabinet said.

Daewoo will provide engineering, procurement, construction and commissioning of a central processing facility in the field located in the western Anbar province, the statement said.

Construction of the new facility would take some 46 and half months from start of work, the statement said. Kogas is developing the Akkas field, which holds an estimated 5.6 Tcf of gas, under a 2011 contract with the Iraqi oil ministry.

Akkas is near the border with Syria.

Dow Jones Newswires

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