More details are coming to light regarding Petrofac’s new contract in Iraq, about which we reported last week.
Dow Jones reports that the two crude-oil processing plants will be at Iraq’s super giant Majnoon oil field, which is run by Iraq’s state-run South Oil Co., Royal Dutch Shell PLC (RDSA) and Malaysia’s state-run Petronas, and that the project is expected to take 18 months.
There was reportedly no comment from a Petrofac official based in Sharjah.
Update, 23rd August:
In Petrofac’s half-year results, published this morning, the only reference to Iraqi business was the following statement:
“In Iraq, we have commenced early stage engineering work for an International Oil Company which is expected to lead to a larger contract award during the second half of the year.“