Parsons Wins Iraq Oilfield Contract

Parsons has been awarded a contract from the U.S. Army Corps of Engineers for future work restoring the Iraq oil infrastructure to pre-war production levels. The contract was awarded to Parsons Iraqi Joint Venture, which includes Parsons E&C Corporation, based in Houston, Texas, and Parsons Corporation, based in Pasadena, California. The Worley Group of Australia is a teamed subcontractor. The task order contract covers a full range of services to restore the oil production in the northern portion of Iraq with a maximum value of $800 million.

"Rebuilding the Iraqi oil infrastructure is one of the most complex undertakings of recent times. The Parsons Worley team is proud to be part of this essential undertaking," explains Bill Hall, Chairman and Chief Executive Officer of Parsons E&C Corporation. "We have a strong team and are proud to continue Parsons' long-standing support of the Corps of Engineers. We are committed to helping the Iraqi people rebuild their infrastructure and improve their way of life in the years to come," states Jim McNulty, Parsons Chairman and Chief Executive Officer.

Parsons has been working continuously in the Middle East on oil and infrastructure projects since the 1940s. Among its many notable projects in the area is the ongoing redesign and restoration program for the Kuwait Oil Company -- a contract issued to Parsons following Operation Desert Storm. Parsons began working in Iraq in the 1950s on oil, water and transportation projects and remained in the country through the mid-1980s.