Petrofac has secured a contract worth $75 million from South Oil Company (SOC) for its Iraq Crude Oil Export Expansion Project (ICOEEP).
Under the new agreement, Petrofac will continue to facilitate a substantial proportion of Iraq’s oil export which is generated from the facility located 37 miles offshore the Al Fao Peninsula in Southern Iraq.
The company’s principal role is to provide operations and maintenance services for the export facilities, comprising the central metering and maintenance platform and four Single Point Moorings, and the loading of the tankers for onward transportation.
“Over the last four years we’ve achieved some significant milestones on this project, including the export of more than 1.5 billion barrels of oil,” Mani Rajapathy, Petrofac managing director, engineering & production services east, said.
“From the beginning of our relationship Petrofac has been aligned to our goals to significantly increase production from the ICOEEP facility. This has been realised through the team’s continued focus on operational excellence and safe and innovative project execution. I look forward to continuing to meet our safety and export milestones with Petrofac as our partner,” Hayan A. Abdulzahra, director general of Southern Oil Company, said.
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