Petrofac Wins Iraq Contract Extension
Petrofac reported that its Engineering and Production Services (EPS) division has secured a six-month extension to its contract with Basra Oil Co. (BOC) for the Iraq Crude Oil Export Expansion Project (ICOEEP).
Located 37 miles (60 kilometers) offshore the Al Fao Peninsula in Southern Iraq, the ICOEEP is one of the largest export terminals in the Gulf region and handles approximately 50 percent of Iraq’s crude oil exports, Petrofac noted in a written statement emailed to Rigzone. The firm added the contract extension builds upon the its successful, nearly eight-year track record as the ICOEEP’s incumbent operations and maintenance service provider.
“We are delighted to be awarded this further contract extension in Iraq by our longstanding client BOC,” remarked Mani Rajapathy, managing director of EPS East with Petrofac. “During this current challenging period for operations we have continued to work well together, improving the daily export beyond two million barrels. We thank BOC for their consistent support and look forward to maintaining the best-in-class operation of this important national asset.”
Petrofac, which has maintained a presence in Iraq since 2010, stated the ICOEEP includes a central metering and manifold platform and four single point moorings that facilitate oil export into crude carrier tankers. The company added that it is responsible for nearly 186 miles (300 kilometers) of subsea pipelines, 5,906 feet (1,800 meters) of subsea and floating hose infrastructure and a 14-vessel marine spread. It also pointed out that it employs approximately 400 people in Iraq and is working on projects for various national oil company and international oil company clients.
“Petrofac continues to be a true partner to BOC, ensuring uninterrupted and record exports,” commented BOC Director General Ihsan Ismaael. “We appreciate their commitment, particularly during this recent period, and congratulate them for hitting new export highs.”
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